SunSirs: Demand Was Weak and the Acrylic Acid Market Was Weak
March 06 2024 10:24:12 SunSirs (John)
Price trend
The acrylic acid market had been operating weakly recently. According to the Commodity Market Analysis System of SunSirs, as of March 5th, the average quoted price of acrylic acid in East China was 6,175.00 RMB/ton, a decrease of 1.00% compared to last Wednesday (February 18th).
Factors affecting the price of acrylic acid:
Cost side: According to the commodity market analysis system of SunSirs, on March 4th, the reference price for propylene was 6,863.25 RMB/ton, a decrease of 0.11% compared to March 1st (6,870.75 RMB/ton). Recently, the raw material propylene market had been experiencing narrow fluctuations and consolidation, with moderate support for the acrylic acid market.
Supply and demand side: In recent times, the demand side had been dragging the market, with the terminal market mainly being wait-and-see. Downstream new orders had limited transactions, and the purchasing attitude towards the acrylic acid market was cautious. Enterprises were not smooth in shipping, and some discounts were used to promote transactions. The focus of negotiations in the acrylic acid market had decreased.
Market outlook
The acrylic acid analyst from SunSirs believes that the short-term cost support is limited, downstream manufacturers have poor purchasing sentiment, and mostly maintain following up with small orders on demand. The market atmosphere is light, and it is expected that the acrylic acid market will continue to consolidate weakly in the short term. More attention should be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-24 SunSirs: The Price of Acrylic Acid Was Stable, and the Market Was Wait-and-see
- 2024-04-07 SunSirs: Supply Side Operation Without Pressure, Acrylic Acid Prices Continued to Rise
- 2024-03-29 SunSirs: Supported by the Supply Side, the Acrylic Acid Market Rose in March
- 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)
