SunSirs: Supply and Demand Gamed, Acrylic Acid Market Temporarily Operated Stably

https://www.chemnet.com   Aug 09,2024 SunSirs

Price trend

This week, the domestic acrylic acid market prices remained stable, with prices in the South China acrylic acid market ranging from 6,600-6,625 RMB/ton. The market price of raw material propylene had been lowered. The cost support of the acrylic acid market had weakened, and the downstream butyl acrylate market was experiencing a downward trend. The atmosphere in the market was deadlocked, with limited cost support. Downstream users mainly consumed contracts, cautious spot purchased, butyl acrylate suppliers flexibly offered, and the market negotiation focus was weak. Recently, the trend of raw materials has been declining, and the market for acrylic acid was cool. Under the guidance of multiple market factors, the price of acrylic acid remained stable due to the smooth flow of goods in the market.

The main reasons for the market price of acrylic acid are as follows:

In terms of cost

International oil prices continued to rise, but there was an expectation of increased supply in the current market, and the impact of low-priced sources was significant, which had limited support for price trends, resulting in weak prices in the propylene market. The mainstream price in East China was between 7,100-7,150 RMB/ton, and there were still some downstream buyers in Zhejiang who had a strong desire to buy, but they mainly relied on contracts and small contracts for trading.

Demand side

The main downstream acrylic esters were mainly on the rise, and recently the butyl acrylate market had been declining. The price of butyl acrylate in East China was around 9,000-9,150 RMB/ton, and the atmosphere in the market was deadlocked, with limited cost support. The center of n-butanol market prices was declining, with a price of 7,650 RMB/ton in the Shandong market. The wait-and-see atmosphere was intensifying, and mainstream factories were actively offering discounts and reducing inventory. Downstream users were cautious in their operations, and low-priced transactions were the main trend in the market. The domestic n-butanol market was operating weakly.

Market outlook

The domestic acrylic acid market price was temporarily stable, and the cost side propylene price was running weakly, supporting the weak price of the acrylic acid market; The demand side was driven by the support of other raw materials and the tight supply flow, which still provided sufficient support for the current acrylic acid market. SunSirs’ analysts predict that in the future, the cost pressure on acrylic acid companies will increase and the recovery of terminal demand will be slow, making it difficult to maintain the subsequent rise of acrylic acid and acrylic esters.

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

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