SunSirs: In Mid July, the Domestic IPA Market Continued to Decline

https://www.chemnet.com   Jul 22,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the domestic IPA market continued to decline in mid July. On July 11th, the average price of IPA in China was 8,550 RMB/ton, and on July 19th, the average price was 8,520 RMB/ton, with a price drop of 0.35%.

Analysis review

The domestic IPA market continued to decline in mid July. The overall market situation was relatively light, with poor trading in the market and a strong wait-and-see attitude. Downstream inquiries were average, and there was a strong need to buy goods. Recently, Qingdao Haili Jia's 50,000 tons/year IPA plant had been restarted, and the operating rate had increased compared to before. As of July 19th, most of the IPA market prices in Shandong were around 8,400-8,600 RMB/ton; The majority of IPA prices in the Jiangsu Zhejiang region were around 8,600-8,700 RMB/ton.

In terms of raw material acetone, the acetone market first rose and then fell in mid July. On July 11th, the average price of acetone was 7,767.5 RMB/ton, and on July 19th, the average price was 7,747.5 RMB/ton. Overall, the price decreased by 0.26%. As of July 19th, the acetone market continued to decline, downstream demand was limited, on-site follow-up of actual orders is limited, and trading is average.

In terms of propylene, the propylene market had fluctuated and risen this week. On July 11th, the average domestic propylene price was 7,190 RMB/ton, and on July 19th, the average price was 7,220.75 RMB/ton, with a price increase of 0.42%. A s of July 19th, the inventory of enterprises is low, and downstream demand is still acceptable. It is expected that the market will operate steadily with a moderate to strong trend in the short term.

Market outlook

An IPA analyst from SunSirs believes that the IPA market price will continue to decline in mid July. The acetone market was weak, while the propylene market price wa fluctuating and rising, with average cost support. The enthusiasm for downstream procurement was poor, with a focus on essential needs. It is expected that the IPA market will operate weakly and steadily in the short term.

If you have any questions, please feel free to contact SunSirs with?support@SunSirs.com.

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