SunSirs: Insufficient Demand, the Acrylic Acid Market Declined in October

Price trend

According to the Commodity Market Analysis System of SunSirs, as of October 30th, the average price of acrylic acid in the East China region was 6,100.00 RMB/ton, a decrease of 11.27% compared to the price on October 1st.

Analysis review

The acrylic acid market steadily declined in October. After the Double Festival, the market price of raw material propylene had decreased, cost support had weakened, industry capacity utilization had increased, and supply of goods was sufficient. However, downstream demand was poor, and the inquiry and procurement atmosphere was not high. Holders were offering discounts to ship, and the focus of negotiations in the acrylic acid market had weakened. In the second half of the month, the raw material propylene market had been boosted by news, resulting in increased cost pressure. The supply side's operating load had decreased compared to the previous period, and the demand side support was weak. Holders' shipments were under pressure, and the acrylic acid market had been sorted out. In late October, the raw material propylene price had weakened, and cost support had once again shown weakness. Some units were shut down, but the demand side follow-up was still insufficient. Downstream procurement was mostly in demand, and acrylic acid prices had fallen.

Cost side: According to the Commodity Market Analysis System of SunSirs, the reference price for propylene on October 27th was 6,988.25 RMB/ton, a decrease of 3.89% compared to October 1st (7,270.75 RMB/ton).

Market outlook

Acrylic acid analysts from SunSirs believe that as of the 30th, there was some cost support, and downstream companies mainly followed up in needed. The market had a strong wait-and-see atmosphere, and it is expected that the acrylic acid market may be in a narrow range of consolidation in the short term, and more attention needs to be paid to market news guidance.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.