SunSirs: The Acrylic Acid Market Saw a Slight Increase in July

https://www.chemnet.com   Jul 31,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 29th, the average price of acrylic acid in the East China region was 6,725.00 RMB/ton, an increase of 1.32% compared to July 1st (the reference price of acrylic acid was 6,637.50 RMB/ton).

Analysis review

From the data monitoring chart of SunSirs, it can be seen that the acrylic acid market first fell and then rose in July, with a slight increase in the overall market trend.

At the beginning of the month, the cost support was still acceptable, downstream purchasing mentality was cautious, and there was a strong demand for buying. The market atmosphere was light, and the market was running weakly. With the maintenance of some devices, the market supply was reduced, and some companies were raising prices, downstream inquiries and procurement of essential needed mainly followed up. Entering the second half of the month, the price of raw material propylene fluctuated narrowly, with continued support from the cost side. Some enterprises' equipment operated at a reduced load, and the industry's capacity utilization rate declined. Manufacturers remained firm in their offers, and terminal demand was mainly based on consumption contracts. Downstream buyers were more cautious about purchasing high priced raw materials, with a focus on immediate and moderate follow-up. Distributors shipped according to market conditions, and the acrylic acid market remained stable with a slightly strong performance.

Raw material propylene: According to the Commodity Market Analysis System of SunSirs, as of July 29th, the reference price of propylene was 7098.25, a decrease of 0.49% compared to July 1st (7133.25). The price of raw material propylene fluctuated slightly in July, providing some support for the acrylic acid market.

Market outlook

The acrylic acid analyst from SunSirs believes that short-term costs and supply support were still acceptable, and downstream buyers are cautious in following up. It is expected that in the short term, the acrylic acid market will operate steadily and wait, and more attention should be paid to market news guidance.

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

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