According to data from SunSirs’ bulk list, as of December 29, the average price of acrylic acid in East China was 13,200.00 RMB/ton, a decrease of 22.35% compared with the price on December 1, and a decrease of 28.13% in a three-month cycle.
After the acrylic acid market fell sharply in December, the acrylic acid prices of some companies rose slightly. At the beginning of the month, the price of raw material propylene was lowered, cost support weakened, inventory of production plants was low, downstream purchased mainly on-demand, and the market was weak and stable. As the price of raw propylene rose first and then fell, the supply of acrylic acid was relatively sufficient, coupled with the lack of downstream demand to follow up, market enquiries and transactions were sluggish, the price of acrylic acid fell sharply. In the second half of the month, market talks gradually bottomed out, overseas mainstream installations were force majeure, export inquiries turned better, acrylic acid prices of some companies increased. Cost support was limited, downstream on-demand purchases were the main focus, and market enquiries and transactions were in general performance.
Upstream propylene, on December 29, the reference price of propylene was 7,544.60 RMB/ton, a decrease of 0.01% compared with the price on December 1 (7,545.50 RMB/ton). On the 29th, the trend of propylene (Shandong) was stable, and individual companies adjusted slightly. The mainstream price of propylene in Shandong was 7,550-7,600 RMB/ton. Crude oil fluctuated upward, and propylene prices rose compared to last week due to the cost boost. However, the mainstream downstream polypropylene has recently moved sideways, and it is difficult to significantly increase the purchase of propylene.
According to the acrylic acid analysts of SunSirs, the current raw material propylene is mainly stable, with little impact on the cost side. The downstream stocks are mainly on-demand. It is expected that the acrylic acid market may be stable in the short term, and more attention needs to be paid to market news guidance.
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