SunSirs: The Propylene Oxide Market Fluctuated to Be Weaker in October

https://www.chemnet.com   Oct 31,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of October 30th, the benchmark price of SunSirs' propylene oxide was 8,625 RMB/ton, an increase of 1.23% compared to the beginning of this month (8,520 RMB/ton).

Price influencing factors:

Supply side: Enterprises such as Sinopec Tianjin, Shenghong Hongwei, Wanhua Phase III, and Shandong Xinyue have seen an increase in load and sufficient market supply. Although Shandong Jinling has stopped for maintenance and Dongying Huatai has reduced its load operation, due to its sufficient inventory, it can continue to be sold externally, leading to an upward trend in domestic propylene oxide. However, weak demand had led to a weak game between supply and demand, resulting in a decline in the price of ECH.

Raw material side: At the end of October, the raw material propylene market experienced a slight decline. Although the manufacturer has sufficient inventory, downstream demand is weak, and the company reduces profits by selling at low prices, resulting in a decrease in actual trading volume. According to the market analysis system of SunSirs, as of October 29th, the benchmark price of propylene in SunSirs was 6,860.75 RMB/ton, an increase of 5.34% compared to the beginning of this month (6513.25 RMB/ton).

Downstream demand side: The downstream order volume had slightly increased, but the sustainability was weak, and the supply and demand transmission was not smooth. Many adopt a wait-and-see attitude, and the propylene oxide market was experiencing a situation of mixed ups and downs.

Market outlook

An propylene oxide analyst from SunSirs believes that the supply-demand game has led to a decline in propylene oxide prices. It is expected that there will be a slight increase in propylene oxide in the short term, and more attention should be paid to market news guidance.

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