The acrylic acid market has been rising recently. According to the Commodity Market Analysis System of Shengyi Society, as of July 24th, the average price of acrylic acid in East China was 6700.00 yuan/ton, an increase of 1.71% compared to last Thursday (July 18th).
Cost aspect:
According to the Commodity Market Analysis System of Shengyi Society, on July 23rd, the reference price of propylene was 7138.25, an increase of 0.07% compared to July 1st (7133.25). In the recent stage, the price of raw material propylene has been running narrowly and weakly, and the cost has been supported by the acrylic acid market, resulting in a decrease in low-priced acrylic acid sources.
Supply and demand side:
In recent stages, some equipment maintenance has been carried out, and the supply side has provided some support for the market. The mentality of the industry is still good, and manufacturers are firm in their offers. Downstream buyers are more cautious about purchasing high priced raw materials, mainly following up on demand and in moderation. The focus of negotiations in the acrylic acid market has shifted upwards.
Market forecast:
An acrylic acid analyst from Shengyi Society believes that the acrylic acid market has been operating steadily with recent cost and supply support. In the short term, cost support may still exist, and there is relatively no significant positive support for terminal demand. Downstream rigid demand orders are the main focus. It is expected that the acrylic acid market will remain strong and wait and see in the short term, and more attention should be paid to market news guidance.
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