SunSirs: Acrylic Market Was Temporarily Stabilized

Price trend

On June 24, the acrylic market went smoothly. According to the data of SunSirs' list, as of June 24, the average price of acrylic acid in East China was 7,733.33 RMB/ton, which was flat compared with the beginning of the week and fell 10.08% compared with June 1.

Analysis review

At present, there is sufficient spot supply in the market, and the downstream mainly purchases on demand. The stocking has basically completed before the holiday. The atmosphere in the venue is slightly light, the market volatility is limited, the market remains stable, and the wait-and-see atmosphere is strong.

On June 24, the market price of upstream propylene in Shandong fell slightly. According to the price of SunSirs, the Shandong propylene market increased by about 250 RMB/ton in one week in early June, and the price showed a significant correction in the middle. The price began to stop falling and rebounded again on June 14th in the middle of the month. As of last Friday, June 19th, the price has continuously increased by 350~450 RMB/ton. The price remained stable over the weekend. It started to fall on the 22nd, but it still fell by about 100 RMB/ton on the 24th. It has fallen by about 200 RMB/ton. As of June 24, the market turnover was between 6,600 and 6,950 RMB/ton, and the mainstream price was around 6,650 RMB/ton. The inventory pressure of propylene manufacturers has increased slightly, and the sales situation has been deserted, which has a negative impact on acrylic acid.

Market outlook

Acrylic acid analysts of SunSirs believe that the current price of raw material propylene has fallen, the cost support is insufficient, and the atmosphere of trading on the floor is light. It is expected that in the short term, the market of acrylic acid market will be weak and stable. More attention should be paid to changes in raw material prices and transactions in mainstream markets.

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