SunSirs: The Acrylic Acid Market Was Mainly Stable (January 16-22)
January 24 2024 11:18:19 SunSirs (John)
Price trend
Recently, the acrylic acid market had been mainly stable. According to the Commodity Market Analysis System of SunSirs, as of January 22nd, the average quoted price of acrylic acid in East China was 6,150.00 RMB/ton, which was unchanged from last Tuesday (January 16th).
Factors affecting the price of acrylic acid:
Cost side: According to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market had continued to rise recently (1.15-1.19). The average price in the Shandong market at the beginning of the week was 6,733 RMB/ton, and the average price over the weekend was 6,863 RMB/ton, with a weekly increase of 1.93%. Cost support from the acrylic acid market had increased.
Supply and demand side: The operating rate had slightly increased compared to the previous period, and there was still support on the supply side. However, downstream stocking enthusiasm was average, with low rigid demand as the main focus. The demand side had performed flatly, and the market was operating steadily.
Market outlook
The acrylic acid analyst from SunSirs believes that the demand performance was average, with market transactions mainly based on rigid demand. However, due to the high price of raw material propylene and significant cost pressure, it is expected that the acrylic acid market will be stagnant and consolidate 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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