SunSirs: Acrylic Acid Market Was Weakly Sorted (April 3-7)

https://www.chemnet.com   Apr 11,2023 SunSirs

According to the Commodity Market Analysis System of SunSirs, as of April 7th, the average quoted price of acrylic acid in East China was 6,775.00 RMB/ton, a decrease of 4.24% compared to Monday's price.

Analysis review

This week, the acrylic acid market was weak and consolidated. Recently, the price of raw propylene market rose, the cost support had increased, and the operating rate of acrylic acid had increased compared with the previous period. However, downstream enterprises had a low operating load, and were cautious in raw material inquiries and procurement. The focus of acrylic acid negotiations was weaker, and demand side purchased at low prices.

Upstream propylene, according to the commodity market analysis system of SunSirs, the recent price of propylene in Shandong was stronger. On April 6th, the reference price of propylene was 7,060.60 RMB/ton, a decrease of 1.09% compared to that of April 1st (7,138.60 RMB/ton).

Market outlook

Acrylic acid analysts from SunSirs believe that although cost support is currently strengthening, the market mentality is still cautious and wait-and-see, with transactions continuing to be mainly in demand. It is expected that the acrylic acid market will consolidate in the short term, and more attention needs to be paid to changes in raw material prices.

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