Price trend
According to data from SunSirs’bulk list, as of August 4, the average price of acrylic acid in East China was 15,066.67 RMB/ton, an increase of 32.94% compared with July 1, and an increase of 4.39% compared with July 31. Compared with the same period last year, it rose by 112.71%.
Analysis review
The acrylic acid market rose steadily in July, with a monthly increase of 27.35%.In July, the acrylic acid market was tight, prices rose, export inquiries increased significantly, export orders from mainstream companies were delivered in an orderly manner, industry inventories were low, and some companies’installations were shut down for maintenance. The market supply was tight, the support from rigid demand was obvious, and the market pushed up with a strong atmosphere. Affected by the typhoon at the end of the month, the supply of factories in some areas was limited, the market supply and demand were tightly balanced, and the price center gradually increased. Entering August, some factories have been overhauled one after another, the overall market supply is tight, the transaction atmosphere is acceptable, and prices continue to rise.
Upstream propylene, according to data from SunSirs’bulk list, as of August 3, the reference price of propylene was 7,845.82 RMB/ton, which was an increase of 0.27% compared with August 1 (7,824.91 RMB/ton). The market was stable and the price was stable.
Market outlook
According to the acrylic acid analysts of SunSirs, the current raw material propylene price is stable, and the impact from the cost side is limited. The continued tight spot supply is still the main factor supporting the market. It is expected that in the short-term, the acrylic acid market may continue to operate strongly, and more attention needs to be paid to market news and guidance.
