Price trend
According to the commodity market analysis system of SunSirs, the vinyl cyanide market rose first and then fell in November. As of November 30th, the price of bulk vinyl cyanide in the vinyl cyanide market was 10,100 RMB/ton, an increase of 5.62% from the 9,562 RMB/ton at the beginning of the month. The price of raw material propylene fluctuated narrowly, and there was still support from the cost of vinyl cyanide; One of the main downstream industries, ABS, had stable production and demand had support for vinyl cyanide; Vinyl cyanide production slightly increased in November, but due to demand and cost support, the price of vinyl cyanide remained strong in November.
Analysis review
The load of the vinyl cyanide unit fluctuated slightly in November.
In November, the price of raw material propylene fluctuated and stabilized, while the cost of vinyl cyanide continued to support. According to the Commodity Market Analysis System of SunSirs, as of November 30th, the domestic propylene price was 7,105 RMB/ton, an increase of 0.78% from 7,050 RMB/ton at the beginning of the month.
There was a strong demand for downstream support for vinyl cyanide in November. In November, the production of downstream ABS industry facilities remained around 80%, providing support for vinyl cyanide; In November, the demand for acrylic fiber terminals continued to be sluggish, and the inventory pressure of finished products from acrylic yarn manufacturers increased. Some acrylic fiber factories underwent maintenance, and the overall operating rate of the acrylic fiber industry decreased, weakening the demand for acrylic fiber; The vinyl cyanide-butadiene rubber Nandi and Ningbo Shunze nitrile units had successively shut down and started feeding, resulting in a slight fluctuation in demand for vinyl cyanide in November; The operating rate of polyacrylamide and other materials was at a low level; Overall, in early November, downstream rigid demand showed good support for vinyl cyanide market.
Market outlook
The vinyl cyanide analyst from SunSirs believed that the supply of vinyl cyanide was still relatively sufficient, but downstream procurement efforts had weakened at the end of the month. However, there was still support for high raw material prices to consolidate the cost of vinyl cyanide. Overall, it is expected that the vinyl cyanide market will experience a slight decline in the short term and then narrow consolidation.
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