According to the price monitoring data of business agency, as of June 21, 2022, the average reference price of domestic n-propanol was 8483 yuan / ton, which was reduced by 17 yuan / ton, or 0.20%, compared with June 12 (the average reference price of n-propanol was 8500 yuan / ton).
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It can be seen from the data monitoring chart of the business club that recently (6.6-6.21), the domestic n-propanol market as a whole has shown a weak and slightly downward trend. During the last ten days of June 16 and 17, the domestic n-propanol market in Shandong had a slight rise. Since the 18th, the overall n-propanol market has been reduced by a narrow range. On the 21st, the cumulative n-propanol market price in Shandong has been reduced by about 50-100 yuan / ton. Most of the price adjustment factors come from the n-propanol suppliers’ adjustment according to their own inventory range. The downstream demand has not been greatly boosted compared with the previous period. It mainly focuses on just needed procurement. The information on the supply and demand side in the market is relatively calm. At present, as of the 21st, the market price of n-propanol in Shandong is around 7850-8400 yuan / ton, and the barrel price is around 9300-9700 yuan / ton. In Nanjing, during the overhaul of n-propanol unit, the price and the previous quotation were stable by the end of June. Local dealers still have reservations about the price. The price is not easy to monitor, which may lead to differences in the specific negotiation situation. Each region also has differences. The actual order negotiation is the main thing, and we will wait and see the change of raw material price and shipment in the future.
In terms of upstream ethylene, on June 20, according to the Asian ethylene market, CFR Northeast Asia quoted us $986-996 / ton, and CFR Southeast Asia quoted us $1096-1106 / ton. The price of international crude oil futures rose. Oil prices rebounded slightly on Monday, the market gradually returned to rationality, and tight supply still dominated, overshadowing the impact of the slowdown in global economic growth. On June 20, the settlement price of the main contract of WTI crude oil futures in the United States was US $108.12/barrel, an increase of US $0.13 or 0.12%; The settlement price of the main contract of Brent crude oil futures was US $114.13/barrel, up US $1.01 or 0.89%. Affected by the rising price of upstream crude oil, the ethylene market may mainly rise in the later period.
Forecast of future market trend of n-propanol
At present, the downstream demand side of domestic n-propanol is relatively stable, the on-site supply side has little change, and the demand side is mainly based on rigid demand. The analysts of business agency n-propanol believe that in the short term, the domestic n-propanol market is stable and small, and the interval adjustment operation is the main. More attention should be paid to the specific changes in the supply and demand side.