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SunSirs: Acrylic Acid Market Declined (October 17-21)
October 24 2022 10:38:07SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of October 21, the average quoted price of acrylic acid in East China was 8,200.00 RMB/ton, down 2.77% compared with the price on Monday, down 6.11% compared with the price on September 21, and down 21.15% in a three-month cycle.

Analysis review

The market of acrylic acid in East China fell this week. From the perspective of supply and demand: recently, the plant load at the supply side was stable, but the downstream demand had not performed well, the follow-up was just on demand. The market trading atmosphere was light, dragging down the acrylic market mainly, and the market parties were cautious.

From the perspective of cost: upstream propylene, according to the data monitoring of SunSirs, the domestic propylene (Shandong) market continued to decline in a narrow range. The average price of Shandong market at the beginning of the week was 7,436 RMB/ton, and the average price at the weekend was 7,426 RMB/ton, with a weekly decline of 0.13%. Recently, the cost support for acrylic acid was not enough.

Market outlook

According to the acrylic analysts of SunSirs, the current cost support is limited, and the market transaction is just in demand, with a strong wait-and-see atmosphere. It is expected that the acrylic market will be dominated by deadlock in the short term, and more attention should be paid to the market news guidance.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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