SunSirs: The Acrylic Acid Market Was Operating on a Wait-and-see Basis (March 11-15)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 15th, the average quoted price of acrylic acid in the East China region was 6,250.00 RMB/ton, which remained unchanged compared to Monday's price and increased by 1.21% compared to last Friday (March 8th). At the beginning of the week, major manufacturers raised their prices, while acrylic acid prices remained stable and remained cautious after rising.

Factors affecting the price of acrylic acid

Cost side: According to the commodity market analysis system of SunSirs, the reference price for propylene on March 14th was 6,948.60 RMB/ton, an increase of 1.13% compared to March 1st (6,870.75 RMB/ton). Since March, the price of raw material propylene had first increased and then decreased, and there was still cost pressure in the acrylic acid market.

Supply and demand: Some units were shut down for maintenance, the industry's capacity utilization rate declined, and the supply was reduced, supporting the market's attitude of holding prices. The supply of low-cost goods in the market was reduced, the operating rate of butyl acrylate in the downstream was slightly increased, and the acrylic lotion industry started steadily. The demand for acrylic acid market inquiry and procurement were maintained to follow up as needed, and the actual market orders were commonly concluded, with a strong wait-and-see atmosphere.

Market outlook

According to acrylic acid analysts from SunSirs, cost support still exists in the short term, and there was an expectation of market supply reduction. However, downstream procurement was cautious and requires followed up appropriately as needed. Supply and demand support may be limited, and it is expected that the acrylic acid market will remain stagnant in the short term. More attention should be paid to changes in supply and demand.

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