SunSirs: The Domestic IPA Market First Rose and Then Fell (May 31- June 7)

https://www.chemnet.com   Jun 11,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the price of IPA rose first and then fell this week, and overall, the price had increased. Last Friday, the average price of IPA in China was 8,632 RMB/ton, while this Friday's average price was 8,680 RMB/ton. The price increased by 0.56% during the week.

Analysis review

The market price of IPA had increased this week. This week's market situation was still good, with many downstream inquiries, so being cautious when purchasing goods. Upstream acetone prices had increased, with strong support for IPA costs, and market prices had followed suit. The downstream market had limited acceptance capacity in the later stage, resulting in a price correction. As of June 7th, the majority of IPA market quotations in Shandong region were around 8,300-8,600 RMB/ton; The majority of IPA prices in the Jiangsu and Zhejiang regions were around 8,900-9,000 RMB/ton.

In terms of raw material acetone, the acetone market had declined this week. Last Friday, the average price of acetone was 8,062.5 RMB/ton, while this Friday's average price was 8,262.5 RMB/ton, with a price increase of 2.48%. As of June 7th, downstream procurement sentiment was good, factory inventory was low, and the acetone market continued to rise.

In terms of propylene, the propylene market fell first and then rose this week, with an overall decline. Last Friday, the average domestic propylene price was 6,854.6 RMB/ton, while this Friday's average price was 6,914.6 RMB/ton, with a price increase of 0.88%. As of June 7th, the inventory of enterprises was low, and downstream demand for goods was high. It is expected that the market will tend to strengthen and consolidate in the short term.

Market outlook

The IPA analyst from SunSirs believes that the market price of IPA rose first and then fell this week, and overall, the price had increased. The acetone market was on the rise, and the propylene market was experiencing an increase in prices, providing strong cost support. However, downstream orders were commonly accepted, with a focus on demand. It is expected that the IPA market will temporarily stabilize and consolidate in the short term.

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