SunSirs: Recent High Prices Fluctuate Slightly, China's Acrylonitrile Market Remains Stable

1. Price trend

As of June 24, 2021, the domestic reference price of acrylonitrile remained at 1,4930.00 yuan/ton, which was the same as the price of the previous working day. Compared with last Friday, the price dropped by 0.33%, and compared with May 24, the price increased by 4.26%.

2. Market analysis

After entering June, the acrylonitrile market transaction price gradually increased. On June 10, the price stabilized at 15040.00 yuan/ton, and began to fluctuate in a small range. On June 24, the price remained at 1,4930.00 yuan/ton. The market is still stable this month, and the quotations of factories are relatively strong. The ex-factory prices of Jiangsu Silbang are currently stable. The prices of Jilin Petrochemical have increased, and dealers’ quotations are relatively stable.

Upstream:

After the Dragon Boat Festival, the Shandong propylene market was organized and operated. The market turnover rose to between 7,600 and 7,900 yuan/ton, and the mainstream price was around 7,900 yuan/ton. The quotations of mainstream manufacturers remained unchanged, while low-end prices increased. It is expected that the propylene market may rise in the near future.

Downstream:

Since June, the nitrile rubber market has fluctuated within a narrow range, and the overall nitrile rubber has shown a trend of small fluctuations after rising first and then falling. Business analysts believe that the relative pressure on the supply side is not great, and the price has fallen sharply in the previous period. It is expected that the nitrile rubber market will be stable in the later period.

In early June, the ABS spot market was weak and fluctuated, and the spot price was generally lowered. In terms of raw materials, the trend was mixed, and the cost of ABS was generally supported. At present, the ABS industry is in the off-season, end-user demand is shrinking, and the resistance of enterprises and merchants to shipments is increasing. ABS analysts of the business agency believe that the recent ABS spot market may continue to be bearish.

3. Market Forecast

The current acrylonitrile market is stable, the upstream propylene cost drive is not strong, the downstream ABS is weak and fluctuating, the fundamentals of the supply and demand of nitrile rubber are acceptable, and the polyacrylamide market is stable. Pay attention to factory settlement and downstream device dynamics.

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