1、 Price trend
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According to the Commodity Market Analysis System of the Business Society, the domestic propylene (Shandong) market fluctuated significantly this week (11.13-11.17). The average price of the Shandong market at the beginning of the week is 7203 yuan/ton, and the average price over the weekend is 7198 yuan/ton, with a weekly decrease of 0.07% and a year-on-year decrease of 0.45%.
As of November 17th, the mainstream prices of propylene in different regions in China are as follows:
Region/ November 17th
Shandong region/ 7130-7200 yuan/ton
Northeast region/ 6800-6850 yuan/ton
East China region/ 7050-7100 yuan/ton
2、 Analysis and Review
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According to the Commodity Market Analysis System of the Business Society, the propylene market rose first and then declined this week. At the beginning of the week, international oil prices rose, and the news was positive, supporting the mentality of the industry. Propylene prices showed a slight increase. Subsequently, the price of propylene rose to a high level, and downstream profit margins decreased, leading to a boycott mentality and a strong wait-and-see atmosphere. Upstream, in order to stimulate sales, the main focus was to reduce prices and inventory.
3、 Future Market Forecast
Propylene analysts from the Chemical Branch of the Business Society believe that in the short term, there will be limited changes in the supply of propylene in the future, and the demand side will follow slowly due to the impact of rising costs. Especially, the downstream polypropylene market remains weak and the buying intention is not strong. It is expected that the propylene market will narrow down and operate next week.
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