1、 Price trend

According to the bulk list data of business society, the domestic propylene (Shandong) market was under pressure this week, and the price continued to decline. At the beginning of the week, the market was 7485 yuan / ton, and the average price at the weekend was 7727 yuan / ton, an increase of 1.51%.

2、 Analysis and review

According to the price chart of business society, the downward range of propylene price this week has become larger. As of Friday, the mainstream price of propylene in Shandong is 7700-7750 yuan / ton and the low-end price is 7600 yuan / ton. Due to the significant decline of crude oil price, propylene price is under pressure, the market bearish mentality is strong, and the downstream demand is OK, but the negative impact of cost is strong, and the demand support is weak.

Crude oil prices fell sharply this week, as concerns about the slowdown in demand caused by the delta virus were further amplified, as well as concerns about oversupply caused by increased production in oil producing countries. Crude oil fell 6.57% this week.

PP prices fell weakly this week, the operating rate of downstream enterprises was not high, and there was a lack of demand. Weak purchasing follow-up and poor response to high price supply, with a decrease of 1.77% during the week.

Acrylic acid continued to rise this week, with low industrial inventory. In addition, some enterprises stopped their units for maintenance, the market supply was tight, and the just need support was obvious. The market had a strong upward atmosphere, with a weekly increase of 4.72%. It plays a supporting role in the propylene market.

Isopropanol made a firm and upward offer this week, with raw materials rising and strong market adjustment intention, with an increase of 7.29% during the week.

3、 Future forecast

Propylene analysts of business community chemical branch believe that the cost side is dominant, and crude oil is bearish in the future. It is expected that the propylene market will maintain a weak downward trend.