Price trend
According to the Commodity Market Analysis System of SunSirs, as of October 13th, the average quoted price of acrylic acid in the East China region was 6,450.00 RMB/ton, a decrease of 2.27% compared to Monday's price.
Analysis review
The acrylic acid market declined this week. The propylene market for raw materials had declined, and cost support weakened. The capacity utilization rate of the acrylic acid industry increased, and the supply side was sufficient. Downstream demand showed a lackluster performance, and the atmosphere of inquiry and procurement was not high, and mainly followed up on demand. Holders were offering discounts to ship, and the focus of negotiations in the acrylic acid market was weakening.
Upstream Propylene: According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market was operating to be weaker after the holiday. On October 12th, the reference price for propylene was 7,105.75 RMB/ton, a decrease of 2.27% compared to October 1st (7,270.75 RMB/ton), which lacked support for the acrylic acid market.
Market outlook
Acrylic acid analysts from SunSirs believe that as of October 13th, cost and demand side support were weak, and market transactions were mainly in demand. It is expected that the acrylic acid market may operate weakly and stably in the short term, and more attention needs to be paid to changes in the supply side.
