SunSirs: This Week, the Domestic IPA Market Fluctuated and Fell (July 22-26)

https://www.chemnet.com   Jul 26,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the domestic IPA market fluctuated and fell this week. On Monday, the average price of IPA in China was 8,450 RMB/ton, and on Friday it was 8,380 RMB/ton. The price dropped by 0.83% during the week.

Analysis review

This week, the domestic IPA market fluctuated and fell. On Wednesday, the propylene process unit of Zhejiang Xinhua was shut down for maintenance, resulting in a slight increase in on-site prices in Jiangsu. Prices have fallen again over the weekend. Overall, the market performance was average, with a strong wait-and-see attitude within the market. Downstream inquiries were average, and they purchased goods mainly on demand. Actual orders were cautious. As of now, most of the IPA market prices in Shandong are around 8,200-8,350 RMB/ton; The majority of IPA prices in the Jiangsu and Zhejiang regions are around 8,500-8,600 RMB/ton, while in the South China region, the price is around 8,775 RMB/ton.

In terms of raw material acetone, the market price of acetone has fallen this week. The average price of acetone on Monday was 7,742.5 RMB/ton, and on Friday it was 7,450 RMB/ton. Overall, the price decreased by 3.78%. At present, the fundamentals of acetone continue to decline, and traders are actively shipping at low prices. Downstream factories purchase according to demand, and it is expected that the short-term acetone price in the East China market will be between 7,300-7,400 RMB/ton.

In terms of propylene, the propylene market fell first and then rose this week. On Monday, the average domestic propylene price was 7,145.75 RMB/ton, and on Friday, the average price was 7,140.75 RMB/ton, with a price reduction of 0.07%. At present, the inventory of enterprises is low and there is no pressure. Downstream purchases are made according to demand, and it is expected that the market will experience slight fluctuations and consolidation in the short term.

Market outlook

An IPA analyst from SunSirs believes that the IPA market price has fluctuated and fallen this week. The acetone market is declining, while the propylene market prices are fluctuating and consolidating, with average cost support. The enthusiasm for downstream procurement is average, mainly based on demand. It is expected that the IPA market will operate to be weaker in the short term.

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

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