Price trend
Recently (11.13-11.22), the vinyl cyanide market continued to rise slightly. According to the Commodity Market Analysis System of SunSirs, as of November 22, the price of bulk vinyl cyanide in the vinyl cyanide market was 10,162 RMB/ton, an increase of 2.26% from 9,937 RMB/ton on November 13. As of November 22, the mainstream price of vinyl cyanide for self delivery in the market was between 10,000 to 10,300 RMB/ton. The price of raw materials fluctuated slightly and the cost support for vinyl cyanide weakened slightly; The main downstream ABS was operating steadily; The construction of vinyl cyanide units had slightly decreased, and there was basically no pressure on the supply and demand side. The vinyl cyanide market had inquiry that’s just in needed support, and prices had risen.
Analysis review
Recently (11.13-11.22), the overall operating rate of domestic vinyl cyanide plants had slightly declined, with Zhejiang Petrochemical's 520,000 ton vinyl cyanide plant once again reducing its load, and only one 130,000 ton production line operating normally.
Recently (11.13-11.22), the raw material propylene market had experienced a slight decline, and the cost support for vinyl cyanide had weakened. According to the Commodity Market Analysis System of SunSirs, as of November 22, the domestic propylene price was 7,058 RMB/ton, a decrease of 2.01% from 7,203 RMB/ton on November 13.
It is understood that as of early November, the downstream ABS construction had remained around 80%, which had rigid support for vinyl cyanide; Recently, the domestic and foreign trade orders for acrylic yarn had been lackluster, and market trading had continued to be sluggish. There had been a varying degree of increase in inventory in acrylic factories, which had support for acrylic; The restart of the nitrile rubber Nandi plant and the temporary shutdown of the Ningbo Shunze nitrile plant had resulted in a slight decrease in demand for vinyl cyanide; The construction of polyacrylamide and other materials had been basically stable. Overall, there was still support from the demand for vinyl cyanide, but as the price of vinyl cyanide further increased, downstream inquiries were gradually on the sidelines.
Market outlook
Vinyl cyanide analysts from SunSirs believe that the t supply of vinyl cyanide was stable and slightly declining; The demand side mainly had rigid support. Recently, the international crude oil price had fluctuated at a low level, and the price of raw material propylene has fluctuated and decreased. Overall, it is expected that the vinyl cyanide market will consolidate at a high level in the short term.
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