Price trend
According to data from SunSirs’bulk list, as of October 28, the average price of acrylic acid in East China was 18,966.67 RMB/ton, a 0.70% decrease compared with the price on 23rd, and a 3.27% increase compared with the price on September 28.
Analysis review
Acrylic acid market prices fell this week. Recently, the price of raw material propylene has continued to decline, cost support has weakened, and industry starts have increased, but inventory is low, downstream enquiries are weak, transactions are average, and the focus of market negotiations has weakened.
In terms of indexes, the acrylic acid commodity index on October 27 was 95.44, a decrease of 0.17 points from previous day, a decrease of 4.56% from the highest point in the cycle of 100.00 points (2011-09-01), and an increase of 288.44% from the lowest point of 24.57 points on November 26, 2015. (Note: Period refers to 2011-09-01 to present)
In the upstream propylene, the propylene market in Shandong has been downgraded this week. According to data from SunSirs’bulk list, as of October 27, the reference price of propylene was 8,537.17, which was 11.35% lower than the price on October 23, and the price rose by 3.71% compared with the price on October 1st.
Market outlook
According to an acrylic acid analyst from SunSirs, the current price of raw material propylene is falling, coupled with insufficient support from the demand side, it is expected that in the short term, the acrylic acid market may be weakened.
