SunSirs: Acrylic Acid Market Fell in June
June 30 2022 10:30:36 SunSirs (John)Price trend
According to the monitoring data of SunSirs, as of June 29, the average quotation price of acrylic acid in East China was 13,933.33 RMB/ton, down 4.35% from the price on June 1, and down 8.93% in a three-month cycle. Compared with the same period last year, it increased by 24.04%.
Analysis review
The acrylic market fell in June. In the first half of the month, the raw material propylene market was weak, with limited cost support. In the early stage, some maintenance devices had been restarted one after another, and the operating rate had increased. Downstream procurement was mainly based on rigid demand, the enthusiasm for inquiries was general, the performance of the demand side was light, and the market sentiment was stalemate and weakened.
In the second half of the month, the raw material propylene market declined, the cost support weakened, the operating rate of acrylic acid increased slightly, some enterprises were expected to carry out equipment maintenance, the downstream construction was stable, the purchasing enthusiasm was general, the market mentality was different, and the trading atmosphere was light and deadlocked.
Upstream propylene, according to the data monitoring of SunSirs, on June 28, the reference price of propylene was 7,738.25 RMB/ton, a decrease of 4.24% compared with the price of propylene on June 1 (8,080.60 RMB/ton).
Market outlook
The acrylic acid analyst of SunSirs believes that the current cost support is limited, and some equipment on the supply side is overhauled, but the downstream buying enthusiasm is not high, and the market sentiment is running lightly. It is expected that in the short term, the acrylic acid market may be in a stalemate, and more attention should be paid to market news changes.
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