SunSirs: Downstream Procurement Was on Demand, and the Acrylic Acid Market Narrowly Fluctuated
November 27 2023 15:11:00 SunSirs (John)
Price trend
This week, the acrylic acid market experienced narrow fluctuations and consolidation. According to the Commodity Market Analysis System of SunSirs, as of November 24th, the average quoted price of acrylic acid in the East China region was 6,125.00 RMB/ton, which was unchanged from Monday's price.
Analysis review
Cost side: According to the commodity market analysis system of SunSirs, on November 23rd, the reference price of propylene was 7,063.25 RMB/ton, an increase of 0.18% compared to November 1st (7,050.75 RMB/ton). Recently, the domestic propylene (Shandong) market had shown a narrow upward trend, and the cost side pressure of the acrylic acid market was relatively high.
Supply and demand side: At the beginning of the week, the follow-up of downstream inquiries into the market was average, with some holders offering discounts to ship. As some devices were shut down for maintenance, the market supply of goods decreased, supporting the mentality of enterprises to raise prices. Downstream mainly followed up on demand.
Market outlook
According to acrylic acid analysts from SunSirs, as of November 24th, there was still cost pressure on acrylic acid, and the supply side had some support for the market. However, downstream purchases were only in demand, and the market atmosphere was average. It is expected that the acrylic acid market may remain stagnant in the short term, and more attention still needs to be paid to market news guidance.
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
