SunSirs: September Arrived, Propylene Oxide Prices Hit Bottom and Rebounded

https://www.chemnet.com   Sep 10,2024 SunSirs

Price trend

The golden September was coming, and the price of propylene oxide had hit bottom and rebounded. The price in Shandong region had risen sharply, with an increase of up to 160 RMB/ton. According to the Commodity Market Analysis System of SunSirs, as of September 6th, the benchmark price of SunSirs' propylene oxide was 8,685.00 RMB/ton, an increase of 0.90% compared to the beginning of this month (8,607.50 RMB/ton).

Analysis review

Price influencing factors:

Supply side: Shandong Xinyue's load had increased to 90%; Shandong Sanyue propylene oxide plant stopped one line for maintenance. Downstream polyether new orders increased, the shipping atmosphere of enterprises was good, releasing inventory pressure, and the focus of negotiations in the propylene oxide market was on the rise.

Raw material side: Recently, the price of raw material propylene had decreased and the price of liquid chlorine had increased, resulting in a situation of mixed ups and downs in the raw material side. The support for the propylene oxide market was still acceptable. According to the market analysis system of SunSirs, as of September 6th, the benchmark price of propylene in SunSirs was 6,938.25 RMB/ton, a decrease of 0.43% compared to the beginning of this month (6,968.25 RMB/ton).

Downstream demand side: The downstream order volume had slightly increased, but the sustainability was weak, the supply and demand transmission was not smooth, and the driving force for chasing up was not strong.

Market outlook

SunSirs’ propylene oxide analyst believes that the propylene oxide market is expected to remain stable and stronger in the short term, supported by multiple favorable factors such as the supply side and raw material side. More attention should be paid to market news guidance.

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

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