SunSirs: The Acrylic Acid Market Fell First and Then Rose in June
June 29 2023 14:03:16 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the average price of acrylic acid in East China as of June 28 was 5,925.00 RMB/ton, 2.07% lower than the price on June 1.
Analysis review
The acrylic acid market fell first and then rose in June. In the first half of the month, the raw material propylene market fluctuated and fell, with insufficient cost support. Some individual factories in the supply side adjusted the load of devices, resulting in a decline in industry operating rates. In the off-season of demand, the downstream ester device load was not high, and the demand for raw material inquiries and procurement was mainly in demand. The focus of market negotiations was weaker. In the second half of the month, the raw material propylene market rose, cost support was increased, boosting the mentality of the industry and driving up prices of enterprises. The factory equipment load was not high, and the demand side procurement continued to be in demand. The acrylic acid market was relatively stronger, and the market wait-and-see atmosphere remained.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, the reference price for propylene on June 27th was 6,513.25 RMB/ton, an increase of 0.81% compared to June 1st (6,460.75 RMB/ton).
Market outlook
Acrylic acid analysts from SunSirs believe that as of the 28th, there was some support in the cost side, downstream procurement was mainly based on demand and the market trading atmosphere was moderate. It is expected that the acrylic acid market may undergo a narrow adjustment 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.
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- 2024-03-18 SunSirs: The Acrylic Acid Market Was Operating on a Wait-and-see Basis (March 11-15)
