SunSirs: After the Holiday, with Supply Side Support, the Acrylic Acid Market Price Rose
February 23 2024 14:08:29 SunSirs (John)
Price trend
After the holiday, the price of acrylic acid in the market had remained stable and slightly stronger. According to the Commodity Market Analysis System of SunSirs, as of February 22, the average quoted price of acrylic acid in East China was 6,237.50 RMB/ton, an increase of 0.81% compared to February 18.
Factors affecting the price of acrylic acid:
Cost side: According to the commodity market analysis system of SunSirs, on February 21st, the reference price of propylene was 6,838.25 RMB/ton, a decrease of 0.07% compared to February 1st (6,843.25 RMB/ton). After the holiday, the price of raw material propylene was weakly narrower, and the cost side was averagely supported by the acrylic acid market.
Supply and demand side: After the holiday, some devices were in a state of shutdown, and enterprises mainly executed pre received orders in the early stage. There was a shortage of spot supply, and there was no pressure on the supply side to increase prices. Downstream demand was gradually recovering, and inquiries and purchases were mainly in demand. The market mentality was cautious and wait-and-see.
Market outlook
The acrylic acid analyst from SunSirs believes that in the short term, cost and supply support still exist, but downstream follow-up is average, and the market atmosphere is stagnant. It is expected that the acrylic acid market may operate steadily in the short term, and more attention still needs to be paid to the acrylic acid and downstream production situation.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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- 2024-03-25 SunSirs: Supported by Supply, the Acrylic Acid Market Remained Stable and Stronger
- 2024-03-18 SunSirs: The Acrylic Acid Market Was Operating on a Wait-and-see Basis (March 11-15)
