I. Key Focus Areas
International crude oil prices declined: On Friday (September 11), the NYMEX WTI crude oil futures contract for October delivery closed at $100.05/bbl, down $2.43/bbl (-2.37% WoW); the ICE Brent crude oil futures contract for November delivery closed at $104.61/bbl, down $3.02/bbl (-2.81% WoW). The INE crude oil futures contract for September 2026 delivery in China rose by CNY 41.5 to CNY 809.9/bbl during the day session and increased by CNY 40.2 to CNY 850.1/bbl during the night session.
As of September 10, the cost of producing propylene via naphtha cracking was approximately CNY 9,024/ton; the cost via PDH (Propane Dehydrogenation) was approximately CNY 8,280/ton; and the cost using externally sourced methanol was approximately CNY 11,326/ton.
As of September 11, the market price of propylene in Shandong was CNY 10,025/ton, while the price of polypropylene powder (Linyi 045 grade) was CNY 9,860/ton, resulting in a narrow spread between the two.
Core Logic: Decline in international crude oil prices, fluctuation in costs within a narrow range, and a narrow spread between PP and propylene prices.
II. Price Table
| Product | Region | Sep 4 | Sep 11 | Change Rate |
|---|---|---|---|---|
| Propylene | Shandong | 9,200–9,400 | 10,000–10,050 | +7.80% |
| Propylene | East China | 9,400–9,500 | 9,900–10,100 | +5.82% |
| Propylene | Northeast China | 8,920–9,030 | 9,630–9,740 | +7.91% |
| Propylene | Northwest China | 5,927–8,927 | 9,590–9,590 | +7.43% |
| Notes: 1. This table reflects mainstream transaction prices in major propylene markets, all inclusive of tax, with units in CNY/ton. 2. Prices represent spot rates from the previous two working weeks prior to this week, not weekly averages. 3. Change rate refers to Week-over-Week (WoW) variation. |
III. Data Table
Propylene Industry Supply and Demand Data Form
| Data Type | Sep 3 | Sep 10 | Change Rate | Weekly Forecast |
|---|---|---|---|---|
| Weekly Output | 1.137 million tons | 1.1734 million tons | 3.20% | ↗ |
| Capacity Utilization (PDH) | 74.10% | 79.58% | 7.40% | ↘ |
| Production Profit (PDH) | CNY 1,103/ton | CNY 1,431/ton | 29.74% | ↘ |
| Notes: 1. Daily output data compares sample daily production across all national enterprises over the past two working weeks. 2. Capacity utilization reflects the ratio of actual plant output to installed capacity, serving as a key production indicator. 3. Production profit is an industry-wide metric reflecting overall profitability in mainstream regions, calculated as the ratio of industry profit to average price. |
Comments
0