SunSirs: The Domestic IPA Market Had Been Operating Weakly and Steadily This Week (November 11-15)

https://www.chemnet.com   Nov 18,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the domestic IPA market had been operating weakly and steadily this week. On Monday, the average price of IPA in China was 6,670 RMB/ton, and on Friday it was 6,660 RMB/ton, with a price reduction of 0.15%.

Analysis review

This week, the domestic IPA market had been operating weakly and steadily. The market for acetone on the raw material side had declined, with limited cost support. The trading atmosphere on the market was light, with a strong wait-and-see attitude. All holders of goods were maintaining stability in their trading ranges, while downstream buyers purchased goods on demand and were cautious in their actual orders. As of November 15th, most of the IPA market prices in Shandong were around 6,600-6,650 RMB/ton; The majority of IPA market prices in Jiangsu and Zhejiang regions were around 6,750-6,800 RMB/ton, while prices in South China were around 7,100 RMB/ton.

In terms of raw material acetone, the market price of acetone had fallen this week. On Monday, the average price of acetone was 5,971.5 RMB/ton, and on Friday it was 5,830 RMB/ton. The domestic acetone market continued to decline, and the sentiment of terminal factories entering the market to replenish goods was average. The overall trading atmosphere was lukewarm, and traders arranged shipments according to the market. The actual negotiations and follow-up were limited, and the trading was average. The offers kept moving towards the low-end.

In terms of propylene, the propylene market fluctuated within the range this week. On Monday, the average price of propylene in China was 6,790.75 RMB/ton, and on Friday it was 6,833.25 RMB/ton, with a price increase of 0.63%. As of November 15th, the inventory of enterprises was low, and the downstream willingness to replenish inventory was increasing. It is expected that the market will experience consolidation to be stronger in the short term.

Market outlook

The IPA analyst from SunSirs believes that the IPA market was stable this week. The acetone market continued to decline, while propylene fluctuated within the range, with limited cost support. The enthusiasm for downstream procurement was average, and downstream procurement was mainly based on demand. It is expected that the IPA market will continue to stabilize and consolidate in the short term.

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