SunSirs: Supply Supported, Acrylic Acid Market Was Stable and Rose
July 12 2023 15:05:47 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, as of July 11, the average price of acrylic acid in East China was 6,325.00 RMB/ton, up 5.20% from July 1.
Analysis review
The acrylic acid market has been steadily rising since July. Recently, the market price of raw material propylene has slightly decreased, and the cost support has weakened. With the support of some equipment maintenance and supply constraints, acrylic acid companies have steadily increased their quotations, and downstream inquiries have increased their enthusiasm. However, the purchasing mentality was still cautious, and the following up was mainly in an appropriate amount on demand.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market has recently slightly declined. On July 10th, the reference price for propylene was 6,370.75 RMB/ton, a decrease of 2.26% compared to July 1st (6,518.25 RMB/ton).
Market outlook
Acrylic acid analysts from SunSirs believe that as of July 11, the factory equipment load was not high, and there was some support from supply for the market. Market transactions were mainly in demand, and there was a strong wait-and-see atmosphere. It is expected that the acrylic acid market will be gently sorted out in the short term, and more market news guidance is needed.
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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)
