SunSirs: Vinyl Cyanide Market Slightly Increased

Price trend

Recently (5.1-5.12), the vinyl cyanide market had slightly increased. According to data monitoring from SunSirs, as of May 12th, the price of bulk water in the vinyl cyanide market was 9,862 RMB/ton, an increase of 0.52% from the 9,662 RMB/ton at the beginning of the month. As of the 12th, the ex factory self pickup price of vinyl cyanide in the market was between 9,700 to 10,000 RMB/ton. The raw material prices were weakly decreased, the cost of vinyl cyanide slightly declined. The demand side had rigid support, coupled with the shutdown and load reduction of some enterprise devices, which slightly boosted the market atmosphere, and the vinyl cyanide market rose slightly.

Analysis review

Since May, the domestic operating rate of vinyl cyanide has remained around 65%, and the operating load of Fushun Petrochemical has decreased from 90% to around 70%; The vinyl cyanide unit of Zhejiang Petrochemical was reduced from full load to 50% load operation at the end of April; Lihuayi Vinyl cyanide Plant was shut down for maintenance in early May; The pressure on the supply side of vinyl cyanide had slightly eased.

Recently (from May 1st to May 12th), the raw material propylene market had slightly declined, and the cost support for vinyl cyanide continued to weaken. According to monitoring by SunSirs, as of May 12th, the domestic propylene price was 6,880 RMB/ton, a decrease of 2.44% from 7,052 RMB/ton at the beginning of the month.

Downstream ABS prices continued to decline, and the operating rate of industry devices had slightly decreased to around 8.5%, the support for vinyl cyanide demand was weakened; The domestic vinyl cyanide-butadiene rubber experienced slight fluctuations, while the price of PAM slightly decreased, the support for vinyl cyanide was mainly weaker.

Market outlook

According to vinyl cyanide analysts from SunSirs, as of the 12th, the supply pressure of vinyl cyanide had slightly eased. Although there was still rigid support on the demand side, it was weakened compared to the previous period. In addition, the cost side was declining, it is expected that the vinyl cyanide market will experience slight fluctuations in the short term.

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