Daily Report on Propylene: (20151008)
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Domestic propylene price table. Unit: yuan/ton. Prices as of October 8: daily change, compared to the average price of last week, compared to the average price of last month, and compared to the average price of the same period last year. In Shandong region, the price ranges from 4800–4900 yuan/ton; the changes are 900, 940, -433, -4830. In the Northeast region, the price is 4250–4250 yuan/ton, with changes of 700, 700, -643, -5039. In the Western region, the price is 4100–4100 yuan/ton, with changes of 0, -975, -5232. In North China, the price ranges from 3250–3700 yuan/ton, with changes of 0, -320, -1532, -5823. In East China, the price is 4000–4100 yuan/ton, with changes of -240, -1513, -5372. In South China, the price ranges from 4200–4200 yuan/ton, with changes of -480, -1380, -5335. During the National Day holiday, propylene prices saw a significant rebound, with the mainstream transaction price in Shandong rising to around 4800–4900 yuan/ton. Propylene refinery inventories are low, and downstream demand remains steady.
Market pressure is rising, with prices remaining stable and consolidating.
The propylene market remained stable today, with the prevailing transaction price in Shandong staying at 4,800–4,900 yuan per ton. During the National Day holiday, the price of propylene soared; inventory levels at propylene refineries remained low, and downstream industries continued to purchase domestic propylene ； However, with the end of the National Day holiday, transportation returned to normal and shipments of propylene at the ports increased, having a significant impact on the domestic market. Currently, the market sentiment has changed; downstream buyers are gradually working through their existing stockpiles as well as the goods imported in previous periods, which has led to a decline in their enthusiasm for purchasing propylene domestically ； As a result, companies and traders that had stocked up goods at low prices earlier are becoming more active in selling their stock, leading to an increase in the supply available in the market; consequently, market pressure is gradually rising.
Market trends in the downstream sector: Polypropylene powder prices rose during the holiday period, driven mainly by a sharp increase in the price of propylene monomer. In Shandong region, the price of PP powder was between 6400–6500 yuan per ton before the holiday, while today it is generally around 6900–7050 yuan per ton； Today’s market prices have stabilized; after the increase, transaction volume has been average, with factories continuing to purchase only as needed. After the holiday, the cyclopropane market in Shandong region operated in a stable manner with slight improvements. During trading days, the prevailing price for cyclopropane was 9100–9300 yuan per ton ex-warehouse in cash, while 9300–9500 yuan per ton ex-warehouse was the price for transactions settled by acceptance. Most of the orders at the lower end were from the holiday period, and deliveries are proceeding as normal. Affected by the sharp rise in propylene during the holiday period, some octanol manufacturers have raised their prices today ； However, there were few inquiries from downstream buyers in the morning, and sales at high prices faced difficulties; a small amount of goods at lower prices were still available. Today, the prevailing negotiation price for octanol in Shandong is 5400–5600 yuan per ton.
Outlook for the future market: It is expected that prices in some areas of the country will see further increases, but market pressure is gradually rising in Shandong. In the short term, the market is expected to remain stable, while a decline is anticipated in the long term. Continue to closely monitor market trends in imported propylene.
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