SunSirs: Demand Was Weak, and Acrylic Acid Prices were narrowly lowered
January 10 2024 14:56:02 SunSirs (John)
Price trend
Recently, the acrylic acid market had experienced a narrow decline. According to the Commodity Market Analysis System of SunSirs, as of January 9th, the average quoted price of acrylic acid in the East China region was 6,200.00 RMB/ton, a decrease of 0.20% compared to last Wednesday (January 3rd).
Analysis review
Cost side: According to the commodity market analysis system of SunSirs, the reference price for propylene on January 9th was 6,643.25 RMB/ton, a decrease of 3.28% compared to January 1st (6,868.25 RMB/ton). Since January, the domestic propylene (Shandong) market prices had first fallen and then increased, and the cost pressure on the acrylic acid market still existed.
Supply and demand side: There had been little pressure on the supply side recently, but the demand side had been light. Downstream prices had been following suit, and market transactions were mainly small orders in demand, with a strong wait-and-see atmosphere.
Market outlook
As of the 9th, acrylic acid analysts from SunSirs believe that as of the 9th, cost and supply side support had continued, coupled with the strong operation of downstream butyl acrylate market, which had boosted market sentiment. However, the demand follow-up was weak, and inquiries and purchases were selecting low demand. Market gamed and consolidated, and the acrylic acid market may experience narrow fluctuations in the short term. 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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