SunSirs: The Acrylic Acid Market Slightly Increased in November

Price trend

According to the Commodity Market Analysis System of SunSirs, as of November 29th, the average quoted price of acrylic acid in East China was 6,150.00 RMB/ton, an increase of 1.65% compared to November 1st.

Analysis review

The acrylic acid market slightly increased in November. At the beginning of the month, the demand support was weak, and some companies experienced a price decline. With the strong operation of raw material propylene and increased cost support, coupled with a decline in the overall operating rate of acrylic acid, market supply was reduced, supporting companies to raise prices to offer. Downstream demand mainly followed suit, and there was a strong wait-and-see attitude. In the middle of the month, there was still support for the cost side, with some companies reducing their equipment load or undergoing maintenance. The low inventory on the supply side had some support for the market, but downstream purchasing intentions were average, and the market mentality was cautious, with a stable consolidation in the market. In late November, the market atmosphere was weak, with a narrow range of fluctuations in the acrylic acid market. Some holders were watching and offering discounts to sell. As the end of the month approached, the supply of goods on the market was relatively low, and with some support from the cost side, the intention of enterprises to lower their prices was not strong. However, downstream demand followed suit commonly, resulting in a stalemate in the market atmosphere.

Cost side: According to the commodity market analysis system of SunSirs, the reference price for propylene on November 29th was 7,105.75 RMB/ton, an increase of 0.78% compared to November 1st (7,050.75 RMB/ton).

Market outlook

The acrylic acid analyst from SunSirs believes that there was some support in terms of cost and supply, but downstream buying was limited, and the market transaction atmosphere was average. It is expected that the acrylic acid market may remain stagnant at a high level in the short term, and more attention needs to be paid to market news guidance.

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