SunSirs: Weak Demand, 2-EH Prices Fell to a 3-year Low in August

https://www.chemnet.com   Sep 03,2024 SunSirs

2-EH prices hit a new low in August

According to the Commodity Market Analysis System of SunSirs, as of August 30th, the price of 2-EH was 7,983.33 RMB/ton, a decrease of 11.30% from the price of 9,000 RMB/ton on August 1st at the beginning of the month; The price of 2-EH decreased by 38.35% from the beginning of the year to 12950 RMB/ton. In August, the price of 2-EH continued its previous downward trend, hitting a new low in 21 years and the second largest monthly decline in 24 years. In the off-season of the market in August, there were many inspections by 2-EH manufacturers, resulting in weak supply and demand in the 2-EH market. Downstream enterprises' enthusiasm for purchasing 2-EH decreased, and 2-EH manufacturers lowered prices for shipments, causing a significant drop in 2-EH prices and reaching a new low for the year.

The price of raw material propylene first fell and then rose

According to the SunSirs' propylene commodity market analysis system, as of August 30th, the price of propylene was 6,968.25 RMB/ton, a decrease of 2.04% compared to the price of 7,113.25 RMB/ton on August 1st. The crude oil market fluctuated and fell in August, and the cost support for propylene weakened; Acrylic manufacturers were operating at low loads, with tight supply and continued fatigue in downstream demand. Propylene prices were weak and consolidating, with weak cost support for 2-EH.

Downstream plasticizer prices hit a new low

According to the Commodity Market Analysis System of SunSirs, as of August 23, the price of plasticizer DOP was 8,726.25 RMB/ton, a decrease of 8.14% from the DOP price of 9,500 RMB/ton on August 1 at the beginning of the month; Compared to the price of 12,091.67 RMB/ton on January 1st at the beginning of the year, it had decreased by 27.83%. In the off-season of the plasticizer market in August, DOP prices continued their previous decline and hit a new low for the year. Gold September was approaching, demand was recovering, and DOP prices briefly rose at the end of August, indicating a trend of rebound in the DOP market.

Market outlook

The2-EH product data analyst of SunSirs believes that the supply and demand of 2-EH market in August were weak. In terms of cost, the price of propylene had fluctuated and fallen, and the cost support for 2-EH had weakened; In terms of demand, the recovery of the plasticizer market is not as expected, and the demand for 2-EH is poor; In terms of supply, there wre more inspections by 2-EH manufacturers, resulting in a decrease in 2-EH supply. At the end of August, the maintenance of 2-EH enterprises was completed, and the supply of 2-EH was sufficient. In the future, the supply and demand of 2-EH in the market will recover, and the supply and demand of 2-EH will increase. It is expected that the price of 2-EH will rebound and rise.

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