SunSirs: The Acrylic Acid Market Was Weak (May 22-26)
May 29 2023 10:46:29 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of the morning of May 26th, the average quoted price of acrylic acid in East China was 6,050.00 RMB/ton, a decrease of 1.63% compared to Monday's price.
Analysis review
This week, the acrylic acid market showed weak performance. Recently, the price of raw propylene market fell, and the cost support was weakened. The operating rate of the supply side industry had declined slightly compared with the previous period, but the demand side showed a weak performance. The enthusiasm of the downstream to get goods was general. Under the drag of cost and demand, the focus of the acrylic market negotiation had declined in a narrow range.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, the reference price for propylene on May 25th was 6,450.75 RMB/ton, a decrease of 8.53% compared to May 1st (7,052.60 RMB/ton).
Market outlook
SunSirs acrylic acid analysts believe that as of the 26th, there was insufficient cost support and low factory equipment load, but the demand follow-up was weak, continuing to replenish just in needed. It is expected that in the short term, the acrylic acid market may be weak and on a wait-and-see basis, 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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- 2024-04-24 SunSirs: The Price of Acrylic Acid Was Stable, and the Market Was Wait-and-see
- 2024-04-07 SunSirs: Supply Side Operation Without Pressure, Acrylic Acid Prices Continued to Rise
- 2024-03-29 SunSirs: Supported by the Supply Side, the Acrylic Acid Market Rose in March
