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Home > Acrylic acid News > News Detail
Acrylic acid News

SunSirs: Supply and Demand Gamed, and the Acrylic Acid Market Was Operating Steadily

October 10 2024 15:14:28SunSirs(John)

Price trend

In this cycle (20241002-20241009), the cost side and demand side played a game, and the overall price of acrylic acid market showed a trend of oscillation and consolidation during the week. The atmosphere of negotiations in various regions was not lively. Although the overall supply and demand pressure was not high, the fundamentals still maintained a weak trend. On October 9th, the benchmark price of acrylic acid in SunSirs was 6,775.00 RMB/ton, unchanged from the beginning of this month.

Analysis review

In terms of cost

Recently, the price of propylene in the market has fluctuated upwards, with clear macroeconomic support. The spot market price has fluctuated upwards, but the enthusiasm for downstream market replenishment was limited, and there was a clear wait-and-see attitude among market participants. As of October 9th, it is expected that the propylene market price will adjust narrowly in the short term, but it is still necessary to closely monitor downstream demand follow-up in the later stage.

The closing price of crude oil has risen significantly, and the price of propylene monomer during the holiday had also increased. With the gradual adjustment of enterprises, as of October 9th, the benchmark price of propylene in SunSirs was 6,800.75 RMB/ton, an increase of 4.41% compared to the beginning of this month (6,513.25 RMB/ton).

Demand side

The price of butyl acrylate has decreased. This week, the butyl acrylate market has slightly declined, and the trading atmosphere in the market was quiet. Downstream manufacturers had a heavy wait-and-see attitude, and transactions were mainly dominated by first-time contract holders. The focus of butyl acrylate quotations was gradually shifting downwards, and the upstream cost support was also limited. In the short term, it is expected that the butyl acrylate market will continue to remain weak, and it is recommended to purchase according to demand.

Market outlook

In summary, the acrylic acid market was maintaining a stable operation, while the upstream acrylic acid market was fluctuating within a range. The listed prices of production enterprises were fluctuating, and the listed prices of acrylic acid manufacturers were temporarily stable. The trading atmosphere on the market was flat, and the overall production capacity was at a low level with limited fluctuations. The downstream market's enthusiasm for receiving goods needs to be improved, and long-term contracts are mainly executed. The short-term market may continue to consolidate and operate.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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