Price Trend
According to the data from the business associations’list, the domestic propylene (Shandong) market has been declining sharply in recent days. The average price of propylene (Shandong) enterprises last Sunday (August 4) was 7977 yuan/ton, and today (August 7) it has dropped to 7638 yuan/ton, a decline of up to 4.24%.
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II. Analytical Review
Products: The price of propylene enterprises in Shandong Province has been stable since August, and began to fall on the 5th day. Today, the total price of propylene enterprises has dropped by 350 yuan/ton. At present, the market turnover is around 7550-8000 yuan/ton, and the mainstream price is about 7600 yuan/ton. Macroscopic market weakened further and the propylene market was short.
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Industry chain: Upstream, crude oil has been declining significantly in recent days, which has a negative impact on propylene. Downstream, the recent polypropylene futures market is also not ideal, propylene or negative effect. Downstream factories just need to purchase mainly, refinery shipment pressure continues to rise, so that the mood of profit and drainage warehouse warming up.
3. Future Market Forecast
Propylene analysts from Business Society Chemical Branch believe that, in general, the recent spot prices of international crude oil and PP are not ideal, downstream just needs to be purchased, and refinery shipment pressure is high. Propylene prices are expected to decline in the near future.
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