Price Trend
According to the data monitored by the business associations, the PP market has been volatile in mid-September, and domestic price quotations have increased. As of September 19, the mainstream offer price of T30S by domestic producers and traders was around 8866.67 yuan/ton, up 1.53% from the first week of September.
| Sulfamic acid 99.80% |
II. Cause Analysis
Upstream: Upstream propylene, recently attacked by Saudi oil production plant, news that US President Trump is considering relaxing sanctions on Iran and Saudi Arabia said that oil production will soon resume, and other international news, the international crude oil market soared after a sudden dive, the propylene market has a negative impact. However, the supply of propylene is tight before and after the festival, and the current refinery inventory is low. The downstream aggregation factories are still profitable, customers are active in purchasing and trading. The downstream market is mostly stable and rising slightly. After the on-site quotation rose, it stabilized and the operation gradually tended to be cautious. Propylene prices are expected to be adjusted and operated in the near future.
| Sulfamic acid 99.50% |
Products: In mid-September, PP market overall price shocks have risen, with emphasis on consolidation. Upstream propylene is relatively stable after rising, and the cost-side support for PP is still acceptable. Although crude oil has fallen sharply after the rise, the Mid-Autumn Festival stockpiling has just passed and the National Day stockpiling is approaching. In addition, the air pollution control scheme around Beijing and Tianjin wings in China has resulted in the shutdown of multi-city aggregation factories. The stock of two barrels of oil PP and traders has continued to decline. Businessmen have actively shipped, and the stock has declined significantly. Tight spot supply is beneficial to price formation. On-site trading atmosphere is more cautious, and the spot market is generally better. Zhenhai Refinery (Sinopec East China) PP ex-factory price, drawing T30S quoted 9050 yuan/ton. Jiujiang Petrochemical (Sinopec East China) PP ex-factory price, drawing T30S quoted 8850 yuan/ton. Fushun Petrochemical (CNPC East China) PP ex-factory price, drawing T30S quoted 8700 yuan/ton. Daqing Petrochemical (CNPC Northeast) PP ex-factory price, drawing T30S quoted for 8950 yuan/ton. Dalian Organic PP (CNOOC Northeast) ex-factory price, drawing T30S quoted 8850 yuan/ton.
3. Future Market Forecast
PP business analysts believe that: in mid-September domestic PP price shocks have risen, upstream propylene rose after stabilization, cost-side support is still acceptable. Polymerization plants in many areas of China are expected to implement production restriction orders, and polypropylene plants are expected to stop production more. Downstream factories due to the recent upsurge of reserve goods before and after the two holidays, the recent acquisition of more active, better demand. The trading atmosphere is good. Dealers are willing to make a bid, and it is expected that the recent trend of PP will probably continue the trend of shocks and adjustments.
| Sulfamic acid |