Market trends:

According to the commodity market analysis system of SunSirs, the mainstream price of polyacrylamide (CPAM, cationic, molecular weight 12 million, degree of ionization 10-30) in China remained stable in February. On the 26th, the main market price was around 12,960 RMB/ton, unchanged from the beginning of the month. This month, the price of raw material vinyl cyanide declined, while acrylic acid prices rose and fuel prices declined, limiting cost support for polyacrylamide. Therefore, the mainstream price of polyacrylamide remained weak and stable.

Market analysis

Raw material vinyl cyanide: Vinyl cyanide prices initially fell and then rose in February. As of February 26, the average price of vinyl cyanide was 7,100 RMB/ton, a decrease of 7.19% compared to 7,650 RMB/ton on February 1. Spot buying activity weakened before the Spring Festival, and the vinyl cyanide market continued to decline; after the Spring Festival, overall supply is expected to remain stable, while demand will gradually recover and grow.

Raw material acrylic acid: Acrylic acid prices continued to rise in February. Following the holiday, propylene prices continued to rise, providing cost support and leading to an increase in acrylic acid prices. Downstream industries gradually resumed operations, and the market remained largely in a wait-and-see mode.

Liquefied natural gas (LNG) for production. Domestic LNG market prices fell sharply in February. As of February 26, the average price of LNG was 2,882 RMB/ton, a decrease of 20.17% from 3,610 RMB/ton on February 1. The LNG market showed an overall situation of supply exceeding demand.

Market Outlook:

In February, the prices of raw materials vinyl cyanide declined, while acrylic acid prices rose, and fuel prices fell, leading to an overall decrease in polyacrylamide costs. As of February 26, the market remained in a supply-demand imbalance, and the domestic polyacrylamide market is expected to consolidate in the near term.

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