According to data from SunSirs’bulk list, as of November 25, the average price of acrylic acid in East China was 16,866.67 RMB/ton, an increase of 1.20% compared with the previous trading day, a decrease of 2.13% compared with the price on last Thursday (18th), and 11.69% lower than the price on October 25.
Recently (11.18-11.25) the acrylic acid market had stopped falling and rebounded. On the 18th, the acrylic acid market was weakly consolidating, and the market mentality was cautiously wait-and-see. As the price of raw material propylene had risen, cost support had been strengthened, coupled with the maintenance of many mainstream devices, the overall inventory of the industry was low, the market sentiment had further improved, and the market had bottomed out. At present, the downstream is mainly based on on-demand procurement, the low-priced supply in the market has decreased, and the transaction price has moved up.
In the upstream propylene, the propylene (Shandong) market rose slightly on the 24th, and the mainstream price of propylene in Shandong was 7,750 RMB/ton. The upstream crude oil price rebounded slightly, and the propylene price took advantage of the momentum to push up by 50 RMB/ton, and the cost support was slightly weak. Downstream procurement was mainly for rigid demand, and they purchased with use, the overall demand remained stable.Market outlook
According to the acrylic acid analysts of SunSirs, the current price of raw material propylene is rising, and the cost support is rising, and the plant equipment is gradually entering the maintenance phase. It is expected that in the short term, the acrylic acid market may move steadily upwards.