The acrylic acid market has been operating weakly recently. According to the Commodity Market Analysis System of Business Society, as of June 24th, the average quoted price of acrylic acid in East China was 6800.00 yuan/ton, a decrease of 0.91% compared to last Tuesday (June 18th).
Cost side:
According to the commodity market analysis system of Shengyishe, the downward trend in raw material propylene prices in the past week has weakened support for the acrylic acid market.
Supply and demand side:
In recent times, the supply side of the acrylic acid market has shown some support, but the demand side has dragged down the market. Downstream buyers mainly choose to buy at low rigid demand, with a cautious attitude towards purchasing high priced raw materials. Some companies are offering discounts to promote transactions, and the focus of negotiations in the acrylic acid market is stable, with a downward trend.
Future Market Forecast:
According to the acrylic acid analyst from Business Society, the current downstream demand in the market is generally followed up, with small orders being bought on demand. The market trading atmosphere is flat, and holders are actively shipping. It is expected that the acrylic acid market may be weak in the short term, and more attention should be paid to market news guidance.
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