SunSirs: The Acrylic Acid Market Was Weakly Sorted (May 8-14)
May 16 2023 14:18:44 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 14th, the average quoted price of acrylic acid in East China was 6,600.00 RMB/ton, a decrease of 0.75% compared to that of last Monday (May 8th).
Analysis review
This week (5.8-5.14), the acrylic acid market was undergoing weak consolidation and operation. Recently, the market price of raw propylene had fallen slightly, the cost support was slightly weaker, and the operating rate of the supply side industry was slightly lower than that of the previous period, but the demand side performance was general, the market trading atmosphere was light, manufacturers were active in shipping, and the focus of acrylic acid negotiation had declined in a narrow range.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market slightly declined this week (5.8-5.12). The average price of the Shandong market at the beginning of the week was 6,918 RMB/ton, and the average price at the weekend was 6,880 RMB/ton, with a weekly decrease of 0.55% and a year-on-year decrease of 19.53%.
Market outlook
Acrylic acid analysts from SunSirs believe that as of the 14th, there was insufficient cost support, and downstream inquiries and purchases was rigid and cautious. Market transactions were average. It is expected that in the short term, the acrylic acid market may see a narrow consolidation operation, and more attention needs to be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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