SunSirs: The Acrylic Acid Market Declined in May
May 31 2023 09:30:54 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 30th, the average price of acrylic acid in the East China region was 6,000.00 RMB/ton, a decrease of 11.76% compared to the price on May 1st.
Analysis review
The acrylic acid market fell in May. In the first half of the month, the raw material propylene market was operating weakly, with slightly weaker cost support. The operating rate of the supply side industry had slightly decreased, while the demand side performance was average. Downstream inquiries and procurement was in needed and cautious, while shippers actively shipped. The focus of acrylic acid negotiations declined narrowly. In the second half of the month, the market situation of raw propylene mainly declined, the cost support was insufficient, the plant load was not high, but the demand follow-up was limited. Inquiries and purchases were mainly just in needed. Under the drag of cost and demand, the price of acrylic acid market fell.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, on May 29th, the reference price for propylene was 6,470.75 RMB/ton, a decrease of 8.25% compared to May 1st (7,052.60 RMB/ton).
Market outlook
Acrylic acid analysts from SunSirs believe that as of 30th, raw material propylene consolidated narrowly, cost support was limited, demand was light, downstream procurement mentality was cautious, and market transactions were mainly in demand. It is expected that the acrylic acid market will be weak and stable in the short term, and more attention should be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-05-11 SunSirs: Supported by Supply, Acrylic Acid Prices Were Rising
- 2024-04-30 SunSirs: Acrylic Acid Market Prices Rose in April
- 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
