December Mainstream Price of Propylene to Fluctuate at a Low Level
Lead: In November, China’s propylene market prices went down because the support from cost and supply-demand fundamentals weakened. At present, the propylene market price is at a low level. In December, the support to the propylene market from supply-demand fundamentals will remain weak. Therefore, the propylene market price may continue to fluctuate at a low level, and the monthly average price is expected to edge down.
In northern China, the propylene market price fluctuated downwards in November due to softening support from cost and supply-demand fundamentals. As of November 23, the propylene market price in Shandong was RMB 7,650-7,700/mt, down RMB 125/mt or 1.60% M-O-M.
In southern China, the propylene market price tapered down, as PP futures and spot prices moved down and the propylene market price in Shandong plummeted. As of November 23, the propylene market price in East China was RMB 7,650-7,650/mt, down RMB 250/mt or 3.16% M-O-M.
Northern China: Mainstream price of propylene trended downwards because the cost and supply-demand fundamentals gave thin support to the market.
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