SunSirs: The Acrylic Acid Market Was Operating Stably (October 16-20)
October 24 2023 09:53:08 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of October 20th, the average price for acrylic acid in the East China region was 6,400.00 RMB/ton, which was unchanged compared to Monday's price.
Analysis review
The acrylic acid market was mainly stable this week. Recently, the raw material propylene market had been boosted by news, and the cost pressure in the acrylic acid market was relatively high. The supply side's operating rate had decreased compared to the previous period, but downstream inquiry and procurement enthusiasm was not high. Holders were under pressure to ship, and the market had a strong wait-and-see sentiment. The acrylic acid market was sorted out.
Upstream Propylene: According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market had recently risen. On October 19th, the mainstream market quotation was 7,200-7,250 RMB/ton, which strengthened support for the acrylic acid market.
Market outlook
Acrylic acid analysts from SunSirs believe that as of the 20th, cost pressure still exists, demand support is weak, and market atmosphere is weak. It is expected that the acrylic acid market may consolidate and wait and see in the short term, and more attention still needs to be paid to changes in the supply side.
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
