SunSirs: Cost Support Increased, and Acrylic Acid Prices Rose
June 27 2023 09:42:13 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of June 25th, the average quoted price of acrylic acid in East China was 5,900.00 RMB/ton an increase of 1.29% compared to last Monday (June 19th).
Analysis review
The acrylic acid market slightly increased this week (6.19-6.25). Recently, the price of raw material propylene in the market had risen, and cost support had increased, which had boosted the mentality of businesses and led to price increases for enterprises. The supply side of the factory had low equipment load, and the operating rate decreased compared to the previous period. The procurement of demand side was mainly based on demand, and the market trading atmosphere was average, with a strong wait-and-see atmosphere.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, on June 25th, the Shandong propylene market continued its upward trend, with the mainstream market quotation rising to 6,350-6,400 RMB/ton an increase of 200 RMB/ton compared to before the holiday.
Market outlook
Acrylic acid analysts from SunSirs believe that as of the 26th, cost support had strengthened, supply support was still acceptable, and downstream inquiries and purchases were mainly on demand. A cautious wait-and-see attitude still existed, and it is expected that the acrylic acid market may undergo narrow consolidation in the short term, with more attention paid to changes in raw material prices.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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- 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
- 2024-03-25 SunSirs: Supported by Supply, the Acrylic Acid Market Remained Stable and Stronger
- 2024-03-18 SunSirs: The Acrylic Acid Market Was Operating on a Wait-and-see Basis (March 11-15)
