SunSirs: The Domestic IPA Market Fluctuated and Fell this Week (August 5-9)

https://www.chemnet.com   Aug 12,2024

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 8,090 RMB/ton, and on Friday it was 7,796 RMB/ton. The price dropped by 1.94% during the week.

Analysis review

This week, the domestic IPA market fluctuated and fell. Overall, there had been a shift in market sentiment this week, with price flexibility adjustments within the market. Some factories had foreign trade orders to execute, and there was no obvious inventory pressure in the factories. The manufacturer's quotation had been raised. Some holders had tight inventory, unable to sell at low prices, and offered at high prices. The prices of some holders who mainly focused on profit taking were still mostly maintained. As of August 9th, most of the IPA market prices in Shandong were around 7,600-7,700 RMB/ton; The majority of IPA market prices in the Jiangsu and Zhejiang regions were around 8,100-8,200 RMB/ton, while prices in the South China region were around 8,200-8,500 RMB/ton.

In terms of raw material acetone, the market price of acetone had fallen this week. The average price of acetone on Monday was 6,962.5 RMB/ton, and on Friday it was 6,802.5 RMB/ton, with a price drop of 2.3%. As of August 9th, the inventory at the port continued to accumulate, and the overall trading atmosphere downstream was not high.

In terms of propylene, the propylene market had experienced a decline this week. On Monday, the average domestic propylene price was 7,135.75 RMB/ton, and on Friday, the average price was 7,000.75 RMB/ton, with a price reduction of 1.89%. As of August 9th, enterprises were actively shipping, offered discounts and making downstream purchases at low prices according to demand. It is expected that the market will be more cautious in the short term, and market prices will be weak.

Market outlook

The IPA analyst from SunSirs believes that the IPA market price had fluctuated and fallen this week, and there was a lack of clear guidance on the market news. From the supply side, the manufacturer's operating rate was not high, and there were foreign trade orders being executed, so the factory did not have obvious inventory pressure. From a demand perspective, downstream procurement enthusiasm was average, with a focus on essential needs. There was still a lack of substantial positive guidance in the market, and it is expected that the IPA market will mainly fluctuate in the short term, with attention paid to changes in the news.

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

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