Domestic propylene market is expected to be stable in the near future

On November 7, the domestic propylene market was stable. Up to now, the mainstream price of propylene in Shandong Province is 6800-7200 yuan / ton; crude oil futures fell to a six week low on Friday (November 4), falling about 9% in total this week, as doubts about OPEC production reduction deepened. NYMEX February crude oil futures fell 59 cents, or 1.3 percent, to $44.07 a barrel. Ice brand crude oil futures fell 77 cents, or 1.7 percent, to $45.58 a barrel. In the northern region, the supply remained stable, the inventory was not high, the supply of goods in the northeast and northwest was relatively small, and the import volume to Hong Kong increased. Although the inventory of polypropylene manufacturers and downstream is small, the long short game of polypropylene futures is obvious, and the trend in the later stage is difficult to analyze from the supply and demand level, but at present, the profit of powder plant is acceptable, and other downstream construction is relatively stable, which is expected to be stable in the near future, and the supply side of propylene market needs to be paid more attention to in case of small fluctuation.