With the opening of the domestic propylene oxide bottom window at the end of July, under the pressure of supply and demand in August, the industry has been overly bearish expectations in August, which led to a heavier risk of downstream risk aversion, and did not make reserve stocks in the early stage. In August, the accidental repairs helped the downstream procurement cycle, and the market unexpectedly 'detonated' the gains.
Recently, the price of raw material propylene has been rising, the price of propylene is too high, and the downstream resistance has deepened. In addition, the propylene plant in the previous parking has been gradually restored. In the downstream, Jinling PO is driving, Haili acrylonitrile is put into operation, and the supply of propylene will be less than the demand for propylene. The low inventory of enterprises can temporarily support propylene, and the short-term propylene highs have resistance. It is expected that the market will remain at a high level. At present, the price of liquid chlorine in Shandong is frequent and fluctuating, and has little effect on the market trend in other regions of China. Will be full, downstream methane chloride and propylene oxide plant start high, the demand for liquid chlorine will only increase, Jinling will also expand the demand for liquid chlorine, for the Shandong liquid chlorine market or small support, next week's forecast liquid The amount of chlorine subsidies will be reduced slightly, and the market continues to fluctuate.
The main factors are: Jishen accidental parking to dispel the fear of the North PO and downstream customers on the market panic, coupled with the need to start the polysilicon orders in the downstream, soaring PO demand, short-term next week, with the terminal just need to buy polyether The gas is turning weak, the shortage of raw material propylene oxide will be alleviated, the cost of polyether is reduced, and the passive rise is expected to be suspended. In the first half of the week, polyether manufacturers will mainly arrange delivery orders, but in the second half of the week, if there is no new benefit Appeared, accompanied by the two-way support of cost and demand, the market talks about the risk of lowering the risk again. The downstream propylene glycol market stone device is in a state of suspension, but next week Depp equipment will have product outflow, the rest of the devices are running stably, the overall supply of the market is very loose It is heard that there is a high inventory of propylene glycol in the factory. Under the optimistic situation of related products DMC, some factories will reasonably maintain the propylene glycol inventory, and the bidding phenomenon still exists. The downstream fatigue is difficult to change, lack of support. Short-term bearish, the propylene glycol market is expected. The downside situation is difficult to change.
In the short-term, the domestic propylene oxide continued to increase momentum is weaker than this week. Although Jishen stopped to repair, but next week Jinling's external volume increased, the terminal's continuous follow-up kinetic energy weakened, supply and demand negative pressure rise, next week At the beginning of the previous orders, domestic propylene oxide may have a slight push up, but in the latter half of the week, with the weakening of the polyether market, Xinyue, Sanyue and other maintenance devices recovered this week, the supply surface rose, and the market entered a short-term consolidation cycle. The downstream continues to be difficult to give strong support, and the market still has downside risks.