SunSirs: The Domestic IPA Market Fluctuated within a Range This Week (October 14-18)

https://www.chemnet.com   Oct 22,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the domestic IPA market fluctuated within a certain range this week. On Monday, the average price of IPA in China was 6,760 RMB/ton, and on Friday it was 6,760 RMB/ton, unchanged from Monday.

Analysis review

This week, the domestic IPA market fluctuated within a certain range. As of October 18th, the trading atmosphere on the exchange was light, with limited actual transactions. There was a strong wait-and-see attitude on the exchange, and they purchased mainly on demand, so actual orders followed the market. As of October 18th, most of the IPA market prices in Shandong were around 6,700-6,750 RMB/ton; The majority of IPA prices in the Jiangsu and Zhejiang regions are around 6,950-7,000 RMB/ton, while prices in the South China region were around 7,050-7,100 RMB/ton.

In terms of raw material acetone, the market price of acetone fluctuated slightly and fell this week. The average price of acetone on Monday was 5,952.5 RMB/ton, and on Friday it was 5,927.5 RMB/ton. Overall, the price decreased by 0.42%. As of October 18th, the domestic acetone market was slightly weak, with average production in terminal factories and a focus on purchasing for essential needs. There was a scarcity of active market entry and hoarding, and traders were affected by market sentiment, increasing their willingness to sell at a discount. The market was showing signs of stalemate, and it is expected that the acetone market would fluctuate within a certain range on October 18th.

In terms of propylene, the overall price of propylene in the market had decreased this week. On Monday, the average domestic propylene price was 6,835.75 RMB/ton, and on Friday, the average price was 6,810.75 RMB/ton, with a price reduction of 0.37%. As of October 18th, the inventory of enterprises had increased, and downstream demand is the main factor, with a strong wait-and-see attitude. It is expected that the market may experience a strong consolidation and operation in the short term.

Market outlook

The IPA analyst from SunSirs believes that the IPA market will fluctuate and consolidate within a certain range this week. The acetone market experienced a slight fluctuation and decline, while the propylene market price decreased, resulting in insufficient cost support. Downstream procurement enthusiasm was weak, with a focus on buying at low prices for essential needs. It is expected that the IPA market will continue to fluctuate and consolidate in the short term.

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