Lead: The propylene price was largely stable due to the relatively stable supply and demand. Affected by unexpected factors, the mainstream price of propylene went down caused by the periodical imbalance between supply and demand. In August, there will be many bearish factors such as the newly added capacity and the maintenance of downstream units, so it is predicted that the propylene market price will decrease slightly.
In northern China, overall supply and demand were balanced in July, but they experienced the periodical imbalance, so the mainstream market price of propylene was stable-to-decreasing. As of July 21, the mainstream market price of propylene in Shandong was RMB 7,700-7,800/mt, down RMB 50/mt or 0.64% from the end of June.
In southern China, the pressure on the propylene market from supply and demand sides was eased somewhat in July. The demand for propylene increased because some downstream units resumed production and some newly added downstream units were put into operation. However, the overall supply was stable, and the previous inventory was high, dragging down the propylene market. As of July 21, the mainstream dealing price of propylene in Ningbo was RMB 7,450-7,450/mt, down RMB 75/mt or 0.99% from the end of June.
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