According to the price monitoring data of business society, as of September 28, the average reference price of domestic n-propanol was 7733 yuan / ton. Compared with the price on September 1 (the average reference price of n-propanol was 7683 yuan / ton), the average price increased by 50 yuan / ton, or 0.65%.
In early September, the domestic n-propanol market rose steadily as a whole. At the beginning of the month, the low-end quotation of n-propanol in Shandong increased greatly, and then the spot dealers and dealers followed suit, but the individual high-end quotation fell again on the 3rd and 4th. On June 6, the newly opened n-propanol plant in Shandong operated normally. The low-end price of Shandong n-propanol plant continued to rise, mainly the price rise in the secondary market. The difference between high and low prices in Shandong n-propanol market continued to shrink, and the ex factory quotation of n-propanol was around 7800-8000 yuan / ton (scattered water). Subsequently, the n-propanol market remained stable as a whole until mid September.
In late September, under the environment of power rationing and energy saving, the overall operating rate of n-propanol downstream decreased, the downstream demand decreased, and the support given to n-propanol was insufficient. On the 18th, the domestic n-propanol market fell. The ex factory reference of n-propanol in Shandong was 7000-7500 yuan / ton, with a maximum reduction of 850 yuan / ton. Then, the overall market was weak and consolidated until the 25th, Shandong large factory slightly increased the ex factory price of n-propanol by 200 yuan / ton. The ex factory price of n-propanol of this factory was referred to 7200 yuan / ton, and then the market continued to rise, without a large-scale rise. Nanjing Rongxin Chemical Co., Ltd., an important domestic n-propanol production enterprise in Jiangsu, currently operates normally. The ex factory quotation of n-propanol is 8500 yuan / ton, which is the same as that at the beginning of the month. N-propanol is mainly supplied to contract users and a small amount is exported. By the end of September, the overall n-propanol market was still weak.
In terms of upstream ethylene, according to the monitoring data of business society, the external price of ethylene fluctuated and rose in September. The average price of ethylene at the beginning of the month was US $1066.00/t, and the average price of ethylene at the end of the month was US $1124.75/t, an increase of 5.51%. The current price fell by 5.76% month on month, and the current price increased by 48.63% year-on-year. In September, the external ethylene market showed an overall upward trend. Asian ethylene market prices continued to rise. As of the 27th, CFR Northeast Asia closed at US $1131-1141 / ton and CFR Southeast Asia closed at US $1046-1056 / ton. European ethylene market prices fluctuated and consolidated. As of the 16th, FD northwest Europe closed at US $1178-1189 / T and CIF northwest Europe closed at US $1124-1132 / T. The price of ethylene in the United States has weakened and consolidated. As of the 27th, the price is 795-812 US dollars / ton. The overall demand of the external ethylene market in September is acceptable. Asian ethylene has raised the ethylene market by its own strength, while European and American ethylene fluctuates slightly up and down, which is generally stable.
Internationally, on September 27, the international oil price continued to rise. The settlement price of the main contract of WTI crude oil futures in the United States was US $75.45/barrel, an increase of US $1.47 or 2.0%, and the settlement price of Brent crude oil futures was US $78.72/barrel, an increase of US $1.49 or 1.9%. Brent crude oil rose to a high since October 2018, approaching the $80 mark in the session. The economy of the world’s major economies continued to recover and fuel demand rebounded, but U.S. inventories continued to decline, and the oil and gas recovery in the Gulf of Mexico was slow. In addition, it is difficult for the organization of Petroleum Exporting Countries and its allies (OPEC +) to increase production in the short term, and the supply-demand gap is expected to strongly support oil prices.
Forecast of future trend of n-propanol
The National Day is coming, the domestic n-propanol market demand is generally improved, and the downstream is purchased on demand as a whole. Therefore, the analysts of business agency n-propanol believe that the short-term domestic n-propanol market is dominated by the stable and medium-term overall operation, and more attention needs to be paid to the specific changes in supply and demand.