SunSirs: Acrylic Acid Market Was Mainly Stable (November 14-18)
November 21 2022 14:20:08 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of November 17, the average price of acrylic acid in East China was 8,033.33 RMB/ton, which was flat compared with the price on Monday and 7.31% lower than the price on October 17.
Analysis review
This week, the acrylic acid market was stable. From the perspective of cost, the price of raw propylene fell recently, and the cost support weakened. From the perspective of supply and demand: the plant load was adjusted slightly, and the operating rate declined compared with the previous period. However, the downstream procurement mentality was cautious, the market transaction was just on demand, and the atmosphere was general. The focus of acrylic acid market negotiation was mainly stable.
Upstream propylene, according to the data monitoring of SunSirs, the domestic propylene (Shandong) market rose and fell back this week (11.14-11.18). The average price of propylene in Shandong market at the beginning of the week was 7,312 RMB/ton, and the average price at the weekend was 7,230 RMB/ton, with a weekly drop of 1.12%.
Market outlook
According to the acrylic analysts of SunSirs, the cost was still supported to some extent. Downstream procurement was on demand, and the market atmosphere was flat. It is expected that in the short term, the acrylic acid market will be mainly stable, waiting and watching. More attention should be paid to the commencement of enterprises and the demand of terminals after cooling in the north.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-07 SunSirs: Supply Side Operation Without Pressure, Acrylic Acid Prices Continued to Rise
- 2024-03-29 SunSirs: Supported by the Supply Side, the Acrylic Acid Market Rose in March
- 2024-03-25 SunSirs: Supported by Supply, the Acrylic Acid Market Remained Stable and Stronger
- 2024-03-18 SunSirs: The Acrylic Acid Market Was Operating on a Wait-and-see Basis (March 11-15)
- 2024-03-06 SunSirs: Demand Was Weak and the Acrylic Acid Market Was Weak
