SunSirs: The Acrylic Acid Market Was Stable and Rising (July 31-August 4)
August 07 2023 10:37:12 SunSirs (John)
Price trend
This week, the acrylic acid market remained stable with some upward movements. According to the commodity market analysis system of SunSirs, as of August 4, the average price of acrylic acid in East China was 6,275.00 RMB/ton, up 0.40% from that of on Monday.
Analysis review
Raw material side: Recently, the domestic propylene (Shandong) market was operating to be weaker. According to the Commodity Market Analysis System of SunSirs, on August 3, the reference price of propylene was 6,638.25, a decrease of 1.12% compared to August 1 (6,713.25), which weakened the support for the acrylic acid market.
Supply and demand side: Recently, some factories had resumed production and increased production capacity utilization, but there was little change in spot supply. The supply side still had support for the market, and the prices of some downstream ester varieties had increased. The procurement of raw material acrylic acid mainly followed up on demand, and the market trading atmosphere was active. The acrylic acid market was stable and rising.
Market outlook
Acrylic acid analysts from SunSirs believe that as of August 4th, market supply and demand support still existed, and market transactions were just in demand. It is expected that the acrylic acid market may be stable and stronger in the short term, and more market news guidance is needed.
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
