Isopropanol Market Rebounded This Week (Nov 3-9, 2017)

The Chinese isopropanol market rebounded this week. The acetone market moved up, which supported the isopropanol market. Units at Haike Group, Detian Chemical and Liaoning Panjin were shut. Isopropanol produced by Shandong Dadi Supu Chemical was mainly exported to foreign markets. Producers saw no sales pressure. Holders tended to raise prices. The downstream demand was on a need-to basis. Up to November 9, 2017, the closing prices for isopropanol in Jiangsu were in the range of RMB 7,100-7,150/mt, up RMB 125/mt or 1.79% from last week. The average price was RMB 7,055/mt, up RMB 10/mt.

Forecast:   

Supply and Demand:

1. The supply of isopropanol will be stable and it will not be surplus.

2. Traders will purchase goods on a need-to basis. The inventory was modest.

3. The demand will be largely stable. The overall trading will be flat.

Other Influencing Factors:

1. The propylene market will fluctuate marginally. The acetone market will be stable at highs.

2. Holders are bullish about the market, which will support the traders’ sentiments.

On the whole, the support to the isopropanol market from the acetone market will continue next week. Mainstream holders will offer stably. Traders won’t reduce prices amid the bullish sentiments. It is predicted that the isopropanol market will move marginally next week.