Price trend
Recently (2.1-2.7), the vinyl cyanide market had slightly declined. According to the Commodity Market Analysis System of SunSirs, as of February 7th, the price of bulk vinyl cyanide in the market was 9,225 RMB/ton, a decrease of 0.67% from 9,287 RMB/ton at the beginning of the month. As of February 7th, the mainstream price for self delivery vinyl cyanide from tanks in the market was between 9,050 to 9,400 RMB/ton. The price of raw material propylene had slightly increased, and the cost supported vinyl cyanide; Approaching the end of the lunar calendar, the main downstream ABS started at a low level, with a small amount of inquiries about vinyl cyanide; The overall supply of vinyl cyanide units was loose, and the vinyl cyanide market was mainly weak before the holiday.
Analysis review
Recently (from 2.1 to 2.7), domestic vinyl cyanide units had been operating steadily with sufficient supply.
Recently (2.1-2.7), the propylene market for raw materials had slightly increased, supported by the cost of vinyl cyanide. According to the Commodity Market Analysis System of SunSirs, as of February 7th, the domestic propylene price was 6,933 RMB/ton, an increase of 1.32% from 6,843 RMB/ton on the 1st.
It is understood that the downstream ABS production was at a low level of 6.2% near the Spring Festival, and the demand for vinyl cyanide was significantly weakening; As of February 7th, acrylic fiber factories were frequently receiving purchase orders from yarn factories at the beginning of the month, with overall low production and weak demand for vinyl cyanide; The nitrile rubber plant was operating normally, with slight support for the demand for vinyl cyanide; The acrylamide industry was operating at a low rate of 4.2%, and demand for vinyl cyanide was weakening. Overall, the demand for vinyl cyanide before the holiday was weak, and the supply of vinyl cyanide was loose, resulting in a weak market consolidation.
Market outlook
SunSirs’ vinyl cyanide analysts believe that although the price of raw material propylene had slightly increased, the supply of vinyl cyanide was still sufficient; In addition, with weak demand support, it is expected that the vinyl cyanide market will continue to maintain a narrow consolidation trend before the holiday.
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