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SunSirs: Acrylic Acid Market Ran Smoothly

December 24 2020 09:55:17     SunSirs (John)

Price trend

According to data from SunSirs’ bulk list, as of December 23, the average price of acrylic acid in East China was 9,833.33 RMB/ton, which was the same as last Thursday (December 17) and rose 11.74% compared to November 23, and an increase of 5.36% in a three-month cycle.

Analysis review  

The acrylic acid market has been running smoothly recently. Recently, the price of propylene, a raw material, has been at a high level. Under the pressure of cost, manufacturers’ offers were stable, and downstream mainly purchased on-demand. Market enquiries and transactions were generally performed, and a cautious wait-and-see mood was strong.

Upstream propylene, on December 22, the market price of propylene in Shandong increased individually. According to data from SunSirs, propylene prices continued to rise in late November, with an increase of over 12%. From the end of November to the beginning of December, the price stabilized again and began to show an overall upward trend on the 4th. From the 3rd to the 8th, the price rose by about 450 RMB/ton, up 5.90%. The price remained stable on the 9th, and some companies made up on the 10th. The price of some companies dropped slightly. The price began to fall twice on the 11th, and continued the downward trend on weekends. It had fallen by 200 to 250 RMB/ton on the 14th. The price was mainly stable on the 15th, and the prices went up individually on the weekends. On the 21st, the price rose by around 50 RMB/ton, and on the 23rd, it remained stable again. The current market transaction is between 7,900 and 8,150 RMB/ton, and the mainstream price is around 7,950 RMB/ton. At present, the manufacturers have few stocks, little pressure, and average sales.

Market outlook

According to the acrylic acid analysts of SunSirs, the recent high price of raw material propylene and the strong support for the cost of acrylic acid, downstream companies just need to purchase, the market atmosphere is general. It is expected that the acrylic acid market will be stable in the short term, and more attention should be paid to market news guidance.

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