SunSirs: Acrylic Acid Market Was Stable (April 17-21)

https://www.chemnet.com   Apr 24,2023 SunSirs

　　According to the Commodity Market Analysis System of SunSirs, as of April 21, the average price for acrylic acid in the East China region was 6,800.00 RMB/ton, which was unchanged compared to Monday's price.

　　Analysis review

　　The acrylic acid market was mainly stable this week. Recently, the market price of raw propylene fell, with limited cost impact. The operating rate of the supply side industry had increased compared to the previous period, and the operating load of downstream enterprises was not high. The demand side performance wa s relatively light, with market inquiries and procurement mainly based on demand, and the focus of acrylic acid negotiations was stable.

　　Upstream propylene, according to the commodity market analysis system of SunSirs, had recently seen a decline in the Shandong propylene market. On April 20th, the reference price for propylene was 7,220.60 RMB/ton, an increase of 1.15% compared to that of April 1st (7,138.60 RMB/ton).

　　Market outlook

　　Acrylic acid analysts from SunSirs believe that as of the 21st, cost support had weakened and market supply had increased, but demand follow-up was still average. Market transactions were mainly on demand. It is expected that the acrylic acid market will consolidate in the short term, and more attention needs to be paid to the downstream pre holiday stocking situation.

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