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SunSirs: The Acrylic Acid Market Slightly Increased in February (February 1- 27)

February 29 2024 15:24:46     SunSirs (John)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 27th, the average quoted price of acrylic acid in East China was 6,237.50 RMB/ton, an increase of 0.81% compared to February 1st.

Analysis review

The market price of acrylic acid slightly increased in February. Before the holiday, the price of raw material propylene had risen, with increased cost support. In addition, the supply side was operating without pressure, and the intention of enterprises to ship at low prices was not strong. Downstream rigid demand was mainly followed up in an appropriate amount. As downstream pre holiday stocking gradually approached its end, the pace of market trading had slowed down, and the focus of negotiations in the acrylic acid market was mainly stable. After the holiday, the price of raw material propylene fluctuated narrowly, with limited impact on cost. Some units were in a shutdown state, and enterprises mainly executed pre received orders in the early stage. The supply side supported the enterprise's price increase operation, but downstream demand followed up slowly. Inquiries and purchases were mainly for rigid needs, and market transactions were average. As the end of the month approached, the market atmosphere was light.

Cost side: Upstream propylene. According to the commodity market analysis system of SunSirs, the reference price for propylene on February 27th was 6,895.75, an increase of 0.77% compared to February 1st (6843.25). The cost side is averagely supported by the acrylic acid market.

Market outlook

The acrylic acid analyst from SunSirs believes that th cost support was still acceptable, the market transaction atmosphere was flat, and under the constraint of weak demand, it is expected that the acrylic acid market may operate under pressure in the short term, and more attention needs to be paid to market news guide.         

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