SunSirs: China's Vinyl Cyanide Price Fluctuated downward Last Week, the Market Stabilized

1. Price trend

As of June 28, 2021, the domestic reference price of acrylonitrile remained at RMB 1,4790.00/ton, which was the same as the price of the previous working day. Compared with the previous week, the price fell by 1.14% and the price increased by 3.43 compared with May 28. %

2. Market analysis

The price of vinyl cyanide gradually declined last week, down 1.14% from the price of 1,4960.00 yuan/ton on June 21; the quotations of intermediate traders remained stable, and individual manufacturers raised their quotations, and the quotation range remained at 14,700-15,000 yuan/ton. The market trading atmosphere is thin, cost support is average, downstream demand performance is not strong, and the supply and demand situation is not greatly affected by equipment maintenance. The market temporarily stabilized after experiencing turbulence and decline.

Upstream:

The Shandong propylene market remained stable after a slight increase this week. 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. The propylene market is expected to stabilize or rise in the near future.

Downstream:

Nitrile rubber as a whole showed a dynamic trend of small fluctuations after rising first and then falling. The nitrile rubber market continued to stabilize last week. 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 increases. ABS analysts of the business agency believe that the recent ABS spot market may continue to be bearish.

3. Market outlook

The current acrylonitrile market has stabilized after turbulence and consolidation, the upstream propylene market has stabilized after the upward movement, the downstream ABS is weak and volatile, the nitrile rubber is mainly stable, and the polyacrylamide market is flat. 

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