SunSirs: The Market Price of IPA Increased This Week (October 7-14)

　　Price trend

　　According to the monitoring of bulk commodity data, the price of IPA was raised this week. Last Thursday, the average domestic IPA price was 8,083.33 RMB/ton, and the average price on this Thursday was 8,366.67 RMB/ton. The price was raised by 3.51% within the week.

　　Analysis review

　　The price of IPA was raised this week. At present, the overall market trading atmosphere is general, and traders mainly wait and see. As of the 14th, most of the quotations of IPA in Shandong were around 8,300-8,500 RMB/ton; most of the quotations of IPA in Jiangsu were around 8,600 RMB/ton; and most of the quotations of IPA in Zhejiang were around 8,600 RMB/ton. Internationally, the US IPA closed stable on October 12, while the European IPA market closed relatively higher.

　　In terms of raw material acetone, the domestic market price of acetone rose sharply. According to the monitoring data of SunSirs, the average domestic acetone price was 6,300 RMB/ton on last Thursday, and the average price on this Thursday was 7,025 RMB/ton. The price within the week was raised by 18.95%. At present, the willingness of the holders to ship goods has increased, and the offers are often concessions.

　　In terms of raw material propylene, the price of propylene rose strongly this week. According to the monitoring data of SunSirs, the average domestic propylene price was 8,092.17 RMB/ton on last Thursday, and the average price on this Thursday was 9,625.67 RMB/ton. The price during the week was raised by 11.51%.The current price of propylene is speculatively high. At the same time, the transportation is gradually recovering after the holiday, and the tight supply and demand is alleviated. It is expected that the price of propylene will consolidate at a high level in the short term.

　　Market outlook

　　The IPA analyst of SunSirs believes that the current domestic factories are dominated by export orders, with low inventories. The demand in the domestic IPA market is average, with fewer enquiries and slower shipments. However, the prices of acetone and propylene have been raised one after another, and the raw materials have certain support for IPA. It is expected that the price of IPA will remain stable for the time being in the short term.