Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 2nd, the average quoted price of acrylic acid in East China was 6,625.00 RMB/ton, an increase of 5.79% compared to March 21st (the reference price of acrylic acid was 6,262.50 RMB/ton).
Analysis review
Since late March, the acrylic acid market had been continuously rising, mainly due to the cessation of decline and rise in raw material propylene prices, coupled with supply side inventory pressure, cost and supply support.
Factors affecting the price of acrylic acid:
Cost side: According to the commodity market analysis system of SunSirs, since the end of March, the price of raw material propylene had stopped falling and rebounded, and costs had increased in the face of support from the acrylic acid market.
Supply and demand side: Since late March, some factory facilities had been shut down for maintenance, and the export market had performed well. The overall supply in the market had shrunk, and the support from the supply side was strong, which had boosted the price boosting mentality of the industry. As the end of the month approached, some facilities in Shandong had resumed operation, and the supply side was still operating without pressure. The market's low-priced supply had decreased, and the downstream operating loadwas low. Multi dimensional demand is mainly followed up, and the inquiry atmosphere is active. The mentality of purchasing high priced raw materials was still cautious.
Market outlook
From a cost perspective, the inventory of short-term raw material propylene enterprises was temporarily controllable, with downstream rigid demand procurement as the main source, which may still support the acrylic acid market. From the perspective of supply and demand, there was no pressure on short-term supply inventory, and companies had weak intentions to lower prices. The mentality of price support still existed, and downstream demand may continue to follow suit. It is expected that the acrylic acid market will remain strong in the short term, and more attention should be paid to changes in raw material propylene prices.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.