According to the data monitoring of SunSirs, the vinyl cyanide market fell weakly in the first ten days of July. As of July 10, the price of vinyl cyanide was 10,700 RMB/ton, down 0.9% from 10,860 RMB/ton on the 1st. The supply side of the domestic vinyl cyanide industry was still in a loose state, the market transaction was deadlocked, and traders sold stocks at low prices.
In the first ten days of July, the price of raw material propylene fell, and the cost support weakened. According to the monitoring of SunSirs, as of July 10, the domestic price of propylene was 7,460 RMB/ton, down 2.86% from 7,680 RMB/ton on the 1st.
Since July, the operating rate of downstream ABS has dropped to around 80%, and the operating rate of acrylic fiber and acrylamide industries has declined slightly. The demand side is slightly weak, but there is still some support for vinyl cyanide; the supply side of vinyl cyanide continues to be under pressure.
The vinyl cyanide analyst of SunSirs believes that the current supply pressure restricts the upward momentum of vinyl cyanide, and it is difficult to change in the short term. It is expected that the price of vinyl cyanide will continue to fluctuate at a low level in the later period.