SunSirs: Vinyl Cyanide Market Continues to Be Weak This Week (June 10-17)
June 20 2022 10:43:03 SunSirs (John)Price trend
According to the data monitoring of SunSirs, the vinyl cyanide market continued to be weak this week (6.10-6.17). As of June 17, the price of vinyl cyanide was 11,080 RMB/ton, down 1.42% from the price of 11,240 RMB/ton on the 10th.
Analysis review
The supply side of the domestic vinyl cyanide industry was still in a loose state, the market transaction was deadlocked, and traders sold stocks at low prices. As of June 17, the vinyl cyanide market offer in East China was between 10,700 and 11,600 RMB/ton.
This week (6.10-6.17), the price of raw material propylene fluctuated slightly, and the cost support was weak. According to the monitoring of SunSirs, as of June 17, the domestic price of propylene was 7,958 RMB/ton, an increase of 0.35% from the price of 7,930 RMB/ton on the 10th; the low point of propylene price this week was 7,890 RMB/ton.
This week (6.10-6.17) the start of the downstream ABS industry equipment remained at a high level of 80% to 90%, which was stable compared with the previous period; the acrylic fiber industry was mainly stable, and the acrylamide industry started at 60% to 70%. The demand support for vinyl cyanide was stable, while the supply side of vinyl cyanide continued to be under pressure.
Market outlook
The vinyl cyanide analyst of SunSirs believes that the current supply pressure restricts the upward momentum of vinyl cyanide, and it is difficult to change in the short term. It is expected that the price of vinyl cyanide will continue to fluctuate at a low level in the later period.
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- 2023-11-23 SunSirs: Vinyl Cyanide Market Continued to Rise Slightly
- 2023-11-03 SunSirs: On November 2nd, the Vinyl Cyanide Market in East China Remained Stable with Minor Fluctuations
- 2023-10-12 SunSirs: The Vinyl Cyanide Market Operated at High Levels
