SunSirs: The Acrylic Acid Market Fell First and Then Rose in January

Price trend

According to the Commodity Market Analysis System of SunSirs, as of January 30th, the average quoted price of acrylic acid in East China was 6,175.00 RMB/ton, a decrease of 0.20% compared to the price on January 1st.

Analysis review

The market price of acrylic acid in January first fell and then rose. In the first ten days, the price of raw material propylene first fell and then rose. The cost faced with the support of the acrylic acid market was average, and there was not much pressure on the supply side. However, the demand side was weak, and downstream prices followed suit. The purchasing mentality was cautious, and the price of acrylic acid was reduced narrowly. In the middle of the month, the price of raw material propylene had risen, and the cost pressure had increased. The operating rate had slightly increased compared to the previous period, and there was still support on the supply side. However, the enthusiasm for downstream stocking was average, with a focus on following up on low rigid demand. The demand performance was average, and the market was mainly stable. In late January, cost support continued, coupled with the shutdown of some devices, supporting a slight increase in prices. Downstream stocking was mainly based on demand, and the market atmosphere was average.

Cost side: Upstream propylene. According to the commodity market analysis system of SunSirs, the reference price for propylene on January 29th was 6,955.75 RMB/ton, an increase of 1.27% compared to January 1st (6,868.25 RMB/ton). The cost side had strong supported for the acrylic acid market.

Market outlook

The acrylic acid analyst from SunSirs believes that cost and supply side support still existed, and downstream followed up mainly on demand. It is expected that the acrylic acid market will remain strong in the short term, and more attention should be paid to market news guidance.

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