Price trend
The acrylic acid market has risen this week. According to the Commodity Market Analysis System of SunSirs, as of November 10th, the average quoted price of acrylic acid in East China was 6,050.00 RMB/ton, an increase of 3.86% compared to Monday's price.
Analysis review
Cost side: According to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market has been on the rise since November. On November 9th, the reference price for propylene was 7,353.25 RMB/ton, an increase of 4.29% compared to November 1st (7,050.75 RMB/ton). This week, the raw material propylene was stronger, and the cost side supported the acrylic acid market strongly.
Supply and demand side: The overall operating rate of acrylic acid had decreased compared to the previous period, and the market supply had shrunk, supporting a high price mentality. Holders had reported an increase in prices, and downstream mainly followed up on demand. The wait-and-see sentiment was strong, and the market transaction atmosphere was average.
Market outlook
Acrylic acid analysts from SunSirs believe that this week, supported by increased costs and reduced supply, acrylic acid prices had continued to rise. In the short term, cost and supply support still exist, but the enthusiasm for inquiry and procurement on the demand side is average. It is expected that the acrylic acid market will operate at a high level in the short term, and more attention should be paid to market news guidance.