SunSirs: This Week, the Domestic IPA Market Experienced a Significant Decline (August 29-September 5)

https://www.chemnet.com   Sep 06,2024 SunSirs

Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, the domestic IPA market experienced a significant decline this week. Last Thursday, the average price of IPA in China was 7,530 RMB/ton, and this Thursday's average price was 6,854 RMB/ton. The price dropped by 8.98% during the week.

Analysis review

The domestic IPA market experienced a significant decline this week. The upstream acetone market was declining, with insufficient support for IPA, and the price of IPA was decreasing following acetone. In terms of demand, the market performance was average, with a strong wait-and-see attitude within the market. Downstream inquiries were average, and there was a strong need to purchase goods, with caution in actual orders. As of September 5th, most of the IPA market prices in Shandong were around 6,750-6,800 RMB/ton; The majority of IPA prices in the Jiangsu and Zhejiang regions were around 6,900 RMB/ton, while in the South China region, the price was around 7,100 RMB/ton.

In terms of raw material acetone, the market price of acetone fell this week. Last Thursday, the average price of acetone was 6,447.5 RMB/ton, and this Thursday's average price was 5,957.5 RMB/ton, with a price drop of 7.6%. As of September 5th, the domestic acetone market price had fallen to a low level, and there had been an increase in inquiries from traders entering the market. The intention to sell at a lower price had weakened, and it is understood that the market transaction situation was average. It is expected that the acetone market will maintain stable operation in the short term.

In terms of propylene, the propylene market fell first and then rose this week, indicating an overall decline in prices. Last Thursday, the average domestic propylene price was 6,968.25 RMB/ton, and this Thursday's average price was 6,938.25 RMB/ton, with a price reduction of 0.43%. As of September 5th, the inventory of enterprises was controllable, and downstream purchases were made according to demand. 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 market price of IPA had dropped significantly this week. The acetone market continued to decline, while the propylene market price had decreased, resulting in poor cost support. The enthusiasm for downstream procurement was average, with a focus on essential needs. It is expected that the IPA market will consolidate and weaken in the short term.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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