SunSirs: Acrylic Acid Market Declined in October
November 01 2022 10:15:35 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of October 30, the average quotation price of acrylic acid in East China was 8,200.00 RMB/ton, 3.53% lower than that on October 1, 14.29% lower in a three-month cycle, and 56.38% lower than that on the same period last year.
Analysis review
Acrylic acid market rose first and then fell in October, with the overall trend declining. After the festival, the market price of raw propylene rose, the cost support rose, the load of some units was limited, the downstream buying was more active, and the acrylic market rose. After the rise, the market was wait-and-see and mainly followed up just on demand. In the middle and late ten days, the price of raw propylene fell, the cost support weakened, the supply side plant load was mainly stable, but the downstream demand was poor, the market trading atmosphere was light, the price of acrylic acid fell, and both sides of the market were cautious.
Upstream propylene, propylene market fell in October. On October 28, the reference price of propylene was 7,340.60 RMB/ton, a decrease of 3.67% compared with that of October 1 (7,620.60 RMB/ton).
Market outlook
According to the acrylic analysts of SunSirs, the current cost support is average, downstream procurement is based on demand, market trading and investment is orderly, and wait-and-see atmosphere is strong. It is expected that the acrylic acid market will be mainly stable in the short term, and more attention should be paid to the changes in raw material prices.
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