1、 Price trend

According to the Commodity Market Analysis System of Business Society, the domestic propylene (Shandong) market slightly declined this week. The average price of the Shandong market at the beginning of the week was 6683 yuan/ton, and the average price over the weekend was 6645 yuan/ton, a weekly decrease of 0.56% and a year-on-year decrease of 12.03%.

As of July 7th, the mainstream prices of propylene in different regions in China are as follows:

Region/ July 7th

Shandong region/ 6450-6500 yuan/ton

Northeast region/ 6050-6100 yuan/ton

East China/ 6300-6350 yuan/ton

2、 Analysis and Review

According to the Commodity Market Analysis System of the Business Society, the propylene market in Shandong rose this week and then slightly declined, with the market initially rising and then declining. Due to the maintenance of some units in the Shandong propylene market during the weekend, supply was tightened, and the quotation was actively pushed up. Subsequently, the downstream showed a resistance towards the high prices after the rise, and the continued upward momentum was insufficient. On the contrary, it stimulated the buying of goods, causing prices to shift from rising to falling, and the focus of transactions to shift downwards.

3、 Future Market Forecast

Propylene analysts from the Chemical Branch of the Business Society believe that overall, the cost side of crude oil is mainly weak, while the demand side is still weak. It is expected that the propylene market will remain weak in the short term.