SunSirs: Under the Suppression of Supply and Demand, the Vinyl Cyanide Market Fell Below the 10,000-RMB Mark
July 22 2022 09:32:47 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of July 21, the market price of vinyl cyanide in bulk water was 9,900 RMB/ton, which fell below the 10,000-RMB mark, down 8.84% from the price of 10,860 RMB/ton at the beginning of the month.
Analysis review
On the one hand, the supply side of the domestic vinyl cyanide industry was still in a loose state, on the other hand, the downstream construction continued to decline, the market transaction was stalemate, and traders sold stocks at low prices. As of July 21, the market offer of vinyl cyanide in East China was between 9,300 and 10,500 RMB/ton.
Although the price of raw material propylene fell slightly, the cost support was still weak. According to the monitoring of SunSirs, as of July 21, the domestic price of propylene was 7,414 RMB/ton, down 3.46% from the price of 7,680 RMB/ton at the beginning of the month.
At present, the start of downstream ABS continues to decline to below 80%, and the start of acrylic fiber has dropped to around 70%. The weak demand side is unable to support vinyl cyanide. The vinyl cyanide production capacity has been newly added and put into operation since August 2021, with a capacity of 1.04 million tons, and the supply side continues to be in a loose state.
Market outlook
The vinyl cyanide analyst of SunSirs believes that the current oversupply fundamentals drag the vinyl cyanide market, and it is difficult to change in the short term. It is expected that the vinyl cyanide market will continue to fluctuate and decline 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
