Price trend
According to the Commodity Market Analysis System of SunSirs, as of August 28th, the average quoted price of acrylic acid in East China was 6,575.00 RMB/ton, an increase of 5.20% compared to August 1st and a decrease of 17.12% compared to the same period last year.
Analysis review
The acrylic acid market slightly increased in August. In early August, the price of raw material propylene in the market fluctuated and the cost impact was average. Some factories’plants resumed production, and the utilization rate of production capacity increased. However, there was little change in spot supply, which still supported the market. The prices of some downstream ester varieties rose, and the market trading atmosphere was active. Transactions were mainly on demand, and the market was stable with some increases. In mid August, cost support still existed, industry equipment operated smoothly, downstream remained on the sidelines and followed up, inquiry and procurement was still mainly based on demand, and price focus was mainly stable. In late August, the cost support was average, while the strong rise in downstream ester products supported the price increase in the acrylic acid market.
Cost side: According to the Commodity Market Analysis System of SunSirs, the reference price for propylene on August 28th was 6,828.25 RMB/ton, an increase of 1.71% compared to August 1st (6,713.25 RMB/ton). Since August, the raw material propylene had fluctuated slightly, and cost side provided some support for the acrylic acid market.
Market outlook
Acrylic acid analysts from SunSirs believe that as of August 28, the market was operating on a stronger side. With the approaching of the "Golden September" period, the demand was expected to increase. It is expected that the acrylic acid market may be strong and firm in the short term, and more attention needs to be paid to market news guidance.
