SunSirs: Vinyl Cyanide Market Had Significantly Declined

Price trend

This week (5.29-6.5), the vinyl cyanide market saw a significant decline. According to the Commodity Market Analysis System of SunSirs, as of June 5th, the bulk price in the vinyl cyanide market was 8,287 RMB/ton, a decrease of 10.89% from last Monday's 9,300 RMB/ton. As of 5th, the self pickup price of vinyl cyanide in the market was between 7,900 to 8,300 RMB/ton. The prices of raw materials continued to decline, the support for vinyl cyanide was weaker; The downstream atmosphere was weak, and prices decreased slightly, the operating rate dropped slightly and the demand for vinyl cyanide continued to be weak; In addition, the supply side hadslightly improved, the vinyl cyanide market slightly declined.

Analysis review

This week (5.29-6.5), there was a slight increase in the operating rate of domestic vinyl cyanide, and Lihuayi's 260,000 ton/year unit was restarted to full load operation on May 30th; Liaoning Jinfa's 260,000 tons/year vinyl cyanide unit load had been increased to 80% operation.

Recently (5.29-6.5), the raw material propylene market continued to decline, and the cost support for vinyl cyanide continued to be weak. According to the Commodity Market Analysis System of SunSirs, as of June 5th, the domestic propylene price was 6,270 RMB/ton, a decrease of 3.09% from last Monday's 6,470 RMB/ton.

Downstream ABS prices continued to decline, with industry device started slightly dropping to around 84%, weakening the demand support for vinyl cyanide; The domestic acrylonitrile-butadiene rubber had slightly declined, and the price of PAM had temporarily stabilized at a low level, with weak support for vinyl cyanide.

Market outlook

Vinyl cyanide analysts from SunSirs believe that as of June 5th, there was a slight increase in supply pressure for vinyl cyanide. In addition, the demand side had weakened again, and the cost side had stabilized at a low level. It is expected that the vinyl cyanide market will be weak and volatile in the short term.

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