SunSirs: Supported by Supply, the Acrylic Acid Market Remained Stable and Stronger
March 25 2024 14:56:58 SunSirs (John)
Price trend
Recently, the acrylic acid market has been operating steadily with a strong trend. According to the Commodity Market Analysis System of SunSirs, as of March 21, the average quoted price of acrylic acid in East China was 6,262.50 RMB/ton, an increase of 0.20% compared to March 15 (acrylic acid reference price of 6,250.00 RMB/ton).
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 21st was 6,960.60 RMB/ton, an increase of 1.31% compared to March 1st (6,870.75 RMB/ton). Recently, the price of raw material propylene had been rising narrowly, and there was still cost pressure in the acrylic acid market, mainly supporting suppliers to raise prices.
Supply and demand side: Recently, the production capacity utilization rate of the acrylic acid industry had decreased, and the supply side had shown a positive trend. The operating rate of downstream butyl acrylate had slightly increased, while the SAP resin and water treatment industries had generally stabilized. The overall market inquiry intention was still acceptable, but the purchasing attitude was still cautious and there was a strong wait-and-see atmosphere. New orders were mainly in demand.
Market outlook
According to acrylic acid analysts from SunSirs, with the recent supply and cost support, the market had seen a decrease in low-priced goods, and short-term cost support may continue. Market supply growth was expected, and downstream follow-up was average. It is expected that the acrylic acid market will continue to consolidate in a narrow range 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.
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- 2024-03-29 SunSirs: Supported by the Supply Side, the Acrylic Acid Market Rose in March
- 2024-03-18 SunSirs: The Acrylic Acid Market Was Operating on a Wait-and-see Basis (March 11-15)
- 2024-03-06 SunSirs: Demand Was Weak and the Acrylic Acid Market Was Weak
