SunSirs: Acrylic Market Prices Rose Sharply This Week (April 13-17)

Price trend

According to the price monitoring of SunSirs, the acrylic acid market has risen sharply this week. As of April 17, the average price of acrylic companies was 7,900 RMB/ton, which was a 25.4% increase from the beginning of the week and a 30.94% increase from last Friday (April 10).

Analysis review   

Product: Recently, acrylic acid market continued to push up. Last weekend, the raw material propylene rose sharply. Under the pressure of cost, the industry rose in all directions. The downstream inquiry and purchase were active. Under the cost pull, the focus of acrylic acid market negotiation moved up. On the 14th, the average price of acrylic acid enterprises rose to 7,366.67 RMB/ton. After the sharp rise, the price of raw propylene fell sharply on the 14th and returned to rationality. On the 15th, the propylene market in Shandong continued to decline, and the price of acrylic acid remained firm and upward. The supply and demand side dominated the market, and the pace of trade and investment was fair. On the 17th, the domestic acrylic acid market was stable at a high level, with the mainstream price around 7,600-8,300 RMB/ton.

Industrial chain: On April 17, the propylene market price in Shandong still fell slightly. Last month, the price of propylene in Shandong fluctuated and fell, and it fell sharply again at the end of the month, with a monthly decline of more than 15%.On the 1st, the price continued to fall by 100 ~ 200 RMB/ton, and on the 2nd, there was still a downside of about 50 RMB/ton. On the 3rd, the prices of some companies rose by 50 ~ 100 RMB/ton. After the Qingming Festival, the price of propylene increased steadily. On the 7th, the price rose daily by about 100 RMB/ton, on the 10th, it rose by 200-300 RMB/ton, and on Saturday 11th, there was a general upward increase of 1,000 RMB/ton. On Sunday 12th, it continued to soar 1,000-5,000 RMB/ton. On Monday, the market may need to digest the sharp rise in the weekend. On the 13th, the price remained unchanged. On the 14th, most of the enterprises' prices dropped by 1,000 RMB/ton, and some of them recovered to the price before the sharp rise. On the 15th, the price dropped by 500-1,000 RMB/ton. On the 16th, the price continued to drop by 200 RMB/ton. On the 17th, the price still dropped by 400 RMB/ton. The current market turnover is between 5,900-6,500 RMB/ton, and the mainstream price is around 5,900 RMB/ton.

Industry: According to the price monitoring of SunSirs, on April 16, 2020, there were 12 kinds of commodities in the chemical industry sector of the list of commodity price rise and fall, including 3 kinds of commodities with an increase of more than 5%, accounting for 3.4% of the number of commodities monitored in the sector; the top three commodities were crude benzene (15.55%), DOP (6.08%) and acrylic acid (5.80%). There were 10 kinds of commodities that fell sequentially, and 3 kinds of commodities that fell more than 5%, accounting for 3.4% of the monitored commodities in this sector; the top 3 products that fell were propane (- 7.34%), propylene oxide (- 6.46%) and polysilicon (- 6.13%). The average rise and fall of this day was 0.05%.

Market outlook

According to the acrylic analyst of SunSirs, the current trading atmosphere of acrylic acid market is fair. Under the influence of supply and demand, it is expected that in the short term, the acrylic acid market will be dominated by high and strong operation, and more attention should be paid to the information guidance of all aspects of the market.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.