SunSirs: The Acrylic Acid Market Slightly Increased in July (July 1-28)
July 31 2023 15:05:17 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, as of July 28, the average price of acrylic acid in East China was 6,250.00 RMB/ton, 3.95% higher than that on July 1, and 38.12% lower than that on the same period last year.
Analysis review
The acrylic acid market slightly increased in July. In early July, the price of raw material propylene decreased, cost support decreased, supply constraints supported the rise of acrylic acid prices, the enthusiasm for downstream inquiries had increased, but the purchasing mindset was still cautious, mainly followed up with moderate volume. In mid July, cost support was average, industry capacity utilization was still low, demand was low, downstream procurement enthusiasm was average, and acrylic acid market remained stable and weak. In late July, there was some cost side support, with market transactions mainly based on demand, and acrylic acid prices operated steadily.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, on July 27th, the reference price for propylene was 6,595.75 RMB/ton, an increase of 1.19% compared to July 1st (6,518.25 RMB/ton). Since July, the raw material propylene had fluctuated slightly, and the cost support for the acrylic acid market was fair.
Market outlook
Acrylic acid analysts from SunSirs believe that as of July 28th, cost support was still acceptable, downstream procurement was mainly on demand. The market had a strong wait-and-see mentality, and it is expected that the acrylic acid market will be stable and wait-and-see in the short term. More attention should be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-30 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
- 2024-03-25 SunSirs: Supported by Supply, the Acrylic Acid Market Remained Stable and Stronger
