According to the data monitoring of SunSirs, the vinyl cyanide market rose sharply this week (9.2-9.10). As of September 10, the domestic spot market price of vinyl cyanide was 9,550 RMB/ton, up 6.23% from 8,990 RMB/ton last Friday.
This week, the supply-side operating rate of the domestic vinyl cyanide industry was basically stable, and the overall operating rate was 60-70%. However, the vinyl cyanide resources in Northeast Asia were tighter than in the previous period, and the downstream stocks were slightly stocked in ‘Gold September and Silver October., and merchants' offers rose as a whole. As of September 10, the mainstream offer of the vinyl cyanide bulk water market in East China was between 9,000 and 9,750 RMB/ton.
This week (9.2-9.10), the price of raw material propylene rose slightly, and the cost side had support. According to the monitoring of SunSirs, as of September 10, the domestic price of propylene was 7,320 RMB/ton, an increase of 3.98% from last Friday's 7,040 RMB/ton.
Driven by export inquiries, the operating rate of downstream ABS continued to increase. As of the first ten days of September, the operating rate of ABS increased to nearly 90%; Jilin Jimeng and Jilin Qifeng had a total of 306,000 tons/year of acrylic fiber plant maintenance plan, which lowered the domestic acrylic fiber operating rate, which was around 40%; nitrile rubber and acrylamide were operating steadily, and the demand for vinyl cyanide was well supported compared to the previous period.
The vinyl cyanide analyst of SunSirs believes that the current cost of vinyl cyanide is supported, the pressure on the supply side in Asia has eased, and the demand side has improved slightly. It is expected that the vinyl cyanide market will continue to rise slightly in the later period.