According to the monitoring of the Commodity Market Analysis System of SunSirs, the IPA market fluctuated this week. The average price of IPA in China on Monday was 7,360 RMB/ton, while on Friday it was 7,350 RMB/ton. The price decreased slightly during the week, with a margin of 0.14%.
The IPA market fluctuated this week. As of the 21st, the market situation was light, upstream acetone prices was lowered and propylene prices fell, cost support was weak. The traders were unstable, the market confidence was weak, and the market price fluctuated. As of the 21st, the majority of quotations for IPA in the Shandong region were around 6,800-7,250 RMB/ton; The majority of prices for IPA in the Jiangsu and Zhejiang regions were around 7,200-7,500 RMB/ton.
In terms of raw material acetone, the acetone market declined this week. The average price of acetone on Monday was 6,587.5 RMB/ton, while on Friday it was 6,550 RMB/ton. The price was reduced by 0.57%. The price of acetone declined, downstream’s wait-and-see sentiment was strong, and they were cautious in getting orders. The holders’shipment was weak.
In terms of propylene, the propylene market fell this week. The average price of propylene in Shandong on Monday was 7,390 RMB/ton, while on Friday it was 7,220.6 RMB/ton. The price was lowered by 2.3% during the week. The shutdown of downstream PP plants for propylene increased, the overall market situation weakened. Downstream customers were more wait-and-see, mainly on demand, and the price of propylene decreased.
SunSirs IPA analysts believe that the price of raw acetone was weak, while the price of propylene fell. Raw material support was insufficient and downstream demand was weak. Traders lacked confidence, purchased cautiously, mainly wait-and-see. It is expected that in the short term, the IPA market will fluctuate within the range and will be stagnant mainly.