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SunSirs: Acrylic Acid Market Runs Firmly Due to Strong Cost Support

December 04 2020 15:22:53     SunSirs (John)

Price trend

The acrylic acid market has been operating steadily recently, and the market rose steadily on December 3. According to data from SunSirs’ bulk list, as of December 3, the average price of acrylic acid in East China was 9,500 RMB/ton, an increase of 6.34% compared with last Thursday (November 26) and a decrease of 1.38% compared with November 3.

Analysis review  

Recently, the price of raw material propylene is high and the cost support is strong. It is reported that the spot supply in the market is limited, the enthusiasm for downstream inquiries is average, market transactions are conducted on demand, and the focus of acrylic acid price negotiations has steadily increased.

Upstream propylene, on December 2, the market price of propylene in Shandong continued to stabilize. According to the monitoring data of SunSirs, the price of propylene continued to rise in late November, with an increase of over 12%. The price remained stable again at the end of the month, and it is still stable today. The current market transaction is still between 7,550 and 7,900 RMB/ton, and the mainstream price is 7,650-7,700 RMB/ton. Now manufacturers have less inventory and good sales.

On December 2, the commodity price index of propylene and acrylic acid was 118.75, which was the same as precious day. It was a decrease of 45.67% from the highest point in the cycle of 218.56 points (2020-04-13), and an increase of 27.30% from the lowest point of 93.28 points on November 06, 2012. (Note: Period refers to 2012-01-01 to present)

Market outlook

According to an acrylic acid analyst from SunSirs, the price of propylene, a raw material for acrylic acid, has been high recently, and the cost support is strong. The downstream inquiries and purchasing atmosphere are generally in general. It is expected that in the short term, the acrylic acid market may be mainly organized and run at a high level. More need to pay attention to market news guidance.

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