SunSirs: The Market Price of ECH Had Slightly Increased This Week (September 16-19)

https://www.chemnet.com   Sep 20,2024 SunSirs

Price trend

The market price of ECH had slightly increased this week. As of September 19th, there was a shortage of spot goods in the market, and supply remained tight. After the price increase, low-priced spot goods were difficult to find, and there had been a decrease in trading orders in the market, with a focus on purchasing small orders for essential needs. According to the monitoring system of SunSirs, as of September 19th, the benchmark price of SunSirs's ECH was 8,350 RMB/ton, an increase of 4.54% compared to the beginning of this month (7,987.50 RMB/ton).

Price influencing factors:

Raw material side: The market price of raw material propylene had decreased. Although the manufacturer had sufficient inventory, downstream demand was weak, and the company reduced profits by selling at low prices, resulting in a decrease in actual trading volume. According to the market analysis system of SunSirs, as of September 19th, the benchmark price of propylene in SunSirs was 6,750.75 RMB/ton, a decrease of 3.12% compared to the beginning of this month (6,968.25 RMB/ton).

Equipment situation: Hubei Minteng, Hebei Jinbang, Zhejiang Zhenyang and other equipment were parked; Fengyi Oil's 100,000 tons/year glycerol plant was shut down on September 4th, and the restart time will be notified separately; In addition, there was also a portion of long-term parking. According to the report, the overall operating rate of the ECH industry within the week was 50-60%.

Downstream demand side: Followed up on small orders for downstream epoxy resin demand, with firm quotes from manufacturers and average actual transaction volume.

Market outlook

Analysts from SunSirs believe that the impact of cost fluctuations was not significant, with downstream demand buying being the main factor and insufficient follow-up on new orders. Therefore, it is necessary to purchase raw materials cautiously. It is expected that the market price of ECH will remain stable in the short term, and more attention should be paid to changes in market prices.

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

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