2-Ethyl Hexanol (Octanol) is mainly used in the production of DOP, dioctyl terephthalate, octyl acrylate and other ester plasticizers. Therefore, the market of propylene, which is a raw material for producing 2-EH, has attracted much attention. Huafu Factory is sharing with you the propylene market trend in China.
This week (11.14-11.18) propylene market rose and then fell back. The average price of the Shandong market at the beginning of the week was 7312 yuan/ton, and the average price at the weekend was 7230 yuan/ton (1009 US dollars/ton), a weekly drop of 1.12%, down 2.77% from the previous 30 days %.
The overall supply and demand of the propylene market is stable, and the downstream rigid demand is the mainstay. However, this year, there are more new production capacity, relatively loose supply, and greater resistance to price rises. Affected by the sharp drop in crude oil on Friday, the market sentiment was suppressed, and downstream goods were slightly cautious.
Crude oil prices fell sharply this week, and the downstream market was mixed. The demand for some products stopped falling and rose. However, polypropylene is still weak and restrains the propylene market.
Huafu Chemicals believes that: the current propylene market is a long-short game. Affected by the sharp drop in crude oil and dominated by bad news, it is expected that the price of propylene will continue to fluctuate within a narrow range next week.
