SunSirs: Cost and Supply Supported, and Acrylic Acid Prices Remained Stable and Stronger

https://www.chemnet.com   Jul 19,2024 SunSirs

Price trend

Recently, the acrylic acid market has remained stable with a stronger trend. According to the Commodity Market Analysis System of SunSirs, as of July 19th, the average price of acrylic acid in East China was 6,587.50 RMB/ton, an increase of 0.19% compared to Monday's price.

Analysis review

Cost side

According to the Commodity Market Analysis System of SunSirs, on July 18th, the reference price of propylene was 7,175.75 RMB/ton, an increase of 0.6% compared to July 1st (7,133.25 RMB/ton). Recently, the price of raw material propylene had fluctuated narrowly, and the cost had continued to be supported by the acrylic acid market, which supported manufacturers' willingness to raise prices.

Supply and demand side:

Recently, some enterprises had been operating with reduced capacity, and the capacity utilization rate of the acrylic acid industry had declined compared to last week. Terminal demand was mainly based on consumption contracts, and downstream inquiries and purchases were on demand. The market atmosphere for new orders was average.

Market outlook

The acrylic acid analyst from SunSirs believes that the cost side support was still relatively strong in the short term, but the demand side needs to follow up appropriately, which may restrict the market growth. It is expected that the acrylic acid market will stabilize in the short term, and more attention should be paid to changes in supply side equipment.

If you have any questions, please feel free to contact SunSirs with?support@SunSirs.com.

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