Price trend
According to monitoring data from SunSirs, as of March 21, the average quoted price of acrylic acid in East China was 7,725.00 RMB/ton, a decrease of 4.04% compared to last Friday (March 17).
Analysis review
In the recent period (3.17-3.21), the acrylic acid market was weaker. Recently, the market price of raw material propylene had fallen, and cost support had weakened. In addition, the enthusiasm of downstream market inquiries and procurement was low, and the focus of acrylic acid price negotiation was lower. Market transactions were mainly on demand, with a strong cautious wait-and-see mentality and market atmosphere was light.
According to monitoring data from SunSirs, the propylene price in Shandong Province was weaker recently. On March 20, the reference price for propylene was 7,176.60 RMB/ton, a decrease of 4.6% compared to that of March 1 (7,522.60 RMB/ton).
Market outlook
Acrylic acid analysts from SunSirs believe that cost support was limited, downstream procurement was just needed, and the market atmosphere was general. It is expected that the acrylic acid market will be stable and watch-and -see in the short term, and more attention needs to be paid to market news guidance.
