SunSirs: Demand Was Positive, and Acrylic Acid Prices Fluctuated Upwards

https://www.chemnet.com   Oct 18,2024 SunSirs

Recently, the price of acrylic acid had been consolidating to be stronger

The market trend continued to fluctuate and rise this week, with slight adjustments in the load of individual factory equipment during the week, but overall changes were not significant. Affected by the trend of demand for ester products, the quoted prices of merchants in various regions had continued to rise. The enthusiasm of users for purchasing had increased, and the focus of actual transactions still leaned towards the mid to low end. As of October 17th, the benchmark price of acrylic acid in SunSirs was 6,812.50 RMB/ton, an increase of 0.55% compared to the beginning of this month (6,775.00 RMB/ton).

Driven by favorable downstream demand

Due to favorable terminal demand, the participation of acrylic ester users in the spot market increased. Due to the increase in cargo volume and cost effects, most traders had mainly adjusted their quotations slightly, with actual negotiations being more common. As for the future judgment, both parties of the transaction stated that their market conditions had fluctuated and overall transactions had increased.

Obvious driving force from the supply and demand side

Supply forecast: The operating load of acrylic acid enterprises on site had slightly adjusted, and the subsequent supply of goods on site will still be sufficient, which will benefit the market price on the supply side.

Demand forecast: There will be a significant improvement in short-term downstream demand, but it will still maintain rigid demand purchasing. Industry players still have a cautious wait-and-see attitude towards the future market of acrylic acid, with strong support from the demand side.

Cost analysis: The price of propylene in East China remained firm, with mainstream prices ranging from 6,950-7,050 RMB/ton. Recently, there has been a restart of propylene export facilities in the Zhejiang region, and downstream factories have shown a relatively strong wait-and-see attitude. The market offer price has remained stable around 7,000 RMB/ton. Due to downstream resistance to high priced goods, the delivery price in Jiangsu has become narrow and loose, reaching around 7,250 RMB/ton.

Market outlook

Overall, the transaction margin of acrylic acid has strengthened, and the overall production of enterprises has remained stable. There has been no significant increase in supply, but due to favorable demand, prices will continue to consolidate and be stronger in the near future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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