SunSirs: Acrylic Acid Market Rose First and Then fell in February
March 02 2023 10:33:46 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the average price of acrylic acid in East China was 8,050.00 RMB/ton as of February 28, up 4.55% from the price on February 1.
Analysis review
The acrylic acid market rose first and then fell in February. In the first ten days, the price of raw material propylene rose, the cost support increased, the industry inventory was low, and the downstream market returned, the demand gradually increased, the market inquiry was positive, and the focus of acrylic acid negotiation was steadily improved. In the middle and late February, the raw material propylene market fluctuated and sorted out, and the cost support remained. The supply side production enterprises were not loaded enough, which supported the rise of the market. The market transaction was just on demand. After the rise, the downstream procurement mentality was cautious, the terminal demand followed up slowly, the enthusiasm for raw material procurement was general, and the focus of the acrylic acid market negotiation was loosened.
According to the monitoring data of SunSirs, the reference price of propylene on February 27 was 7,426.60 RMB/ton, down 1.38% from that of February 1 (7,530.75 RMB/ton).
Market outlook
According to the acrylic acid analyst of SunSirs, as of the end of February, the price of raw material propylene was weak, the cost support was general, the market was in a wait-and-see operation, and the downstream demand was gradually warming up. With the support of supply and demand, the acrylic acid market is expected to be stable and improved in the short term, and more attention should be paid to the guidance of market news.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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