Price trend
According to data from SunSirs’bulk list, as of March 11, the average price of acrylic acid in East China was 12,000 RMB/ton, an increase of 1.12% compared to the beginning of the week, and an increase of 25% compared to February 11. It rose by 65.14% compared with the same period last year.
Analysis review
At present, some installations are shut down for maintenance, and the market supply is tight, which supports the rise in acrylic acid prices. The downstream has a certain resistance to high prices, but the procurement has maintained a rigid demand rhythm, and the acrylic acid market is running firmly.
Upstream propylene, as of March 10, the market price of propylene in Shandong remained stable. According to the monitoring data of SunSirs, due to the influence of upstream and downstream, the price of propylene rose repeatedly in the second half of February and was at a multi-year high. Propylene prices remained stable at the end of February and early March. The price began to decline on the 4th. The price generally rebounded on the 8th, rising 150-250 RMB/ton in two days. As of the 11th, market transactions were between 8,400 and 8,650 RMB/ton, and the mainstream price was around 8,450 RMB/ton.
Market outlook
According to the acrylic acid analysts of SunSirs, the current price of raw material propylene is at a high level, and the cost support is strong; spot supply is tightening, downstream on-demand purchases, and market transactions are orderly. It is expected that the acrylic acid market may be strong in the short term. More need to pay attention to market news guidance.
