Price trend
This week (5.12-5.19), the Vinyl cyanide market slightly declined. According to the Commodity Market Analysis System of SunSirs, as of May 19th, the bulk Vinyl cyanide price in the market was 9,675 RMB/ton, a decrease of 1.90% from last Monday's 9,862 RMB/ton. As of 19th, the self delivery price of Vinyl cyanide in the market was between 9,500 to 9,800 RMB/ton. The raw material prices had slightly increased but were still at a low level, the support for Vinyl cyanide was weak; The downstream atmosphere was weaker, prices were lower, the operating rate had slightly decreased, and the demand for Vinyl cyanide continued weak; In addition, the supply side had slightly improved, and the Vinyl cyanide market had slightly declined.
Analysis review
This week (5.12-5.19), the domestic Vinyl cyanide operating rate slightly increased, and the Coroor’s 260,000 ton/year unit was increased to full load operation.
Recently (5.12-5.19), the raw material propylene market slightly increased but still remained at a low level, and the cost support for Vinyl cyanide continued to be weak. According to the Commodity Market Analysis System of SunSirs, as of May 19th, the domestic propylene price was 6,933 RMB/ton, an increase of 0.77% from last Monday's 6,880 RMB/ton.
Downstream ABS prices continued to decline, and the operating rate of industry devices had slightly decreased to around 84%, weakening the support for Vinyl cyanide demand. The domestic nitrile rubber slightly declined, and the price of polyacrylamide temporarily stabilized at a low level, the support for Vinyl cyanide was mainly weak.
Market outlook
Vinyl cyanide analysts from SunSirs believe that as of the 19th, the supply pressure of Vinyl cyanide had slightly increased. Although there was still a rigid demand support, the demand side was weakened compared to the previous period. In addition, the cost side wa low, and it is expected that the Vinyl cyanide market will fluctuate slightly in the short term.
