Introduction: After the Spring Festival, acetone prices declined around RMB 1,000/mt and propylene prices moved down by RMB 500/mt. Isopropanol market prices declined by RMB 500/mt. Given the weak markets of raw materials, how will the isopropanol market perform?
Propylene Market Forecast
Though the mixing paraffin dehydrogenation unit at Chambroad Petrochemical has been put into operation, Xinhai, Dongming and Sanyuan will take overhauls. The demand for propylene will be weak. Moreover, PP futures market continues the downtrend, which will influence the propylene market sentiments. Propylene market prices will hit a new low.
Acetone Market Forecast
Though the phenolic ketone unit at Formosa Phenol is expected to undergo 45-day maintenance from March 16, phenolic ketone producers’ inventories are ample. The supply of imported acetone at ports in East China is ample, too. Meanwhile, the downstream demand is flat. It is predicted that the acetone market will be weak.
Isopropanol Market Forecast
There are two major bearish factors in the isopropanol market: declining raw materials and slow recovery of the demand.
As the acetone market continues the declines, the profits of isopropanol units adopted acetone method are fine. The gross profit has increased from RMB 475/mt to RMB 750/mt. Downstream users of isopropanol want to see declines in the isopropanol market. The downstream demand for isopropanol is weak and some traders see sales pressure.
However, there is no supply pressure in the isopropanol market, which supports the isopropanol market.
According to Echemi, the isopropanol market will see support in the coming 1-2 months. Around 5,000mt of isopropanol will be exported to the foreign market. Moreover, some units will undergo maintenance.
On the whole, the downstream demand for isopropanol will continue to recover slowly, and production can be consumed. But the weak acetone and propylene markets will weigh on the isopropanol market. It is predicted that the isopropanol market will continue to move marginally and the decline rate will be lower than those of acetone and propylene.
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