SunSirs: Weak Demand, the Acrylic Acid Market Was Fluctuating

https://www.chemnet.com   Sep 04,2024 SunSirs

Price trend

The acrylic acid market fluctuated downward in this cycle (20240828-20240904). As of September 3, the reference price of acrylic acid was 6,725.00 RMB/ton, a decrease of 0.37% compared to September 1 (6,750.00 RMB/ton). The upstream propylene market continued to experience a narrow range of fluctuations, with production companies listing prices fluctuating. Some major acrylic acid manufacturers raised their offer prices, boosting the bullish sentiment among intermediaries. The focus of actual order negotiations had slightly shifted, and downstream markets urgently needed to follow up. The enthusiasm for inquiries had increased, and the short-term market may continue to consolidate and operate.

Analysis review

In terms of cost

The domestic propylene market experienced a decline in price center, with weak fluctuations in national oil prices and weak cost benefits, which had suppressed the propylene market. As the price of propylene fell to a low level in the later stage, as of September 3, the reference price of propylene was 6,928.25 RMB/ton, a decrease of 0.57% compared to September 1 (6,968.25 RMB/ton). The propylene market experienced a slight rebound in prices, but later fluctuations in a certain butanol and octanol unit affected market sentiment, causing propylene prices to gradually fall back.

In terms of demand

The price of butyl acrylate continued to decline, which weakened the support for the adhesive tape mother roll market. Due to weak support from dual raw materials within the month, coupled with no favorable driving force from the demand side, the ex factory price of tape mother rolls fell slightly by 100 RMB/ton, and actual transactions also saw a slight decline. As of September 3, there were many urgent small order inquiries downstream, and the overall trading atmosphere was relatively weak. Overall, there was temporarily no peak season atmosphere in the market, and the price of adhesive tape mother rolls had slightly decreased.

Market outlook

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. The subsequent rise of acrylic acid and esters may be difficult to maintain, and the domestic acrylic acid market will experience narrow fluctuations next week.

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

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