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Review of last week's market performance: A sharp drop followed by a rapid rebound, with the price center shifting significantly higher.
As of August 2, 2026, the benchmark price to propylene tracked by SunSirs stood at 7,927.67 RMB/ton. This represents a cumulative increase of over 400 RMB/ton from the recent low of 7,511 RMB/ton recorded on July 28, efficiently recovering the ground lost during the sharp decline of July 27-28. In terms of daily price trends, propylene exhibited a classic "V-shaped" reversal last week.
Fundamental Drivers: A Confluence of Demand Recovery and Stabilizing Costs
This round of market rebounds is driven by favorable factors regarding both macroeconomic conditions and sector fundamentals:
A recovery in demand: As profit margins improved, multiple downstream propylene units resumed operations; the resulting increase in essential procurement provided a direct boost to propylene prices.
Cost-side support: Crude oil prices halted their decline and rebounded, reinforcing the price floor to propylene from the feedstock side.
Market Outlook
In the short term, propylene prices are likely to fluctuate at high levels with a slightly bullish bias. Close attention should be paid to the extent to which downstream restarts materialize and to evaporative environment in crude oil prices.
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