November Propylene Price to Fall Back
Lead: In October, the propylene market price rose significantly because the cost and demand gave strong support to the propylene market. In November, the cost will still support the propylene market, but the support from supply and demand sides may weaken. Therefore, it is predicted that the propylene market price will fall back from a high level.
In northern China, the propylene market supply was controllable in October, and the demand was relatively good. Besides, the rise in cost gave strong support to the propylene market. Therefore, the propylene market price increased rapidly. As of October 22, the propylene market price in Shandong was RMB 9,000-9,500/mt, up RMB 925/mt or 11.42% M-O-M.
In southern China, the propylene supply was loose in October, and the downstream demand was weak, weighing on the propylene market. As of October 22, the propylene market price in East China was RMB 8,400-8,500/mt, up RMB 600/mt or 7.64% M-O-M.
Northern China: Propylene market price went up notably boosted by cost and demand sides.
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