In this cycle (20241002-20241009), the cost side and demand side played a game, and the overall price of acrylic acid market showed a trend of oscillation and consolidation during the week. The atmosphere of negotiations in various regions was not lively. Although the overall supply and demand pressure was not high, the fundamentals still maintained a weak trend. On October 9th, the benchmark price of acrylic acid in Shengyi Society was 6775.00 yuan/ton, unchanged from the beginning of this month.
In terms of cost
Recently, the price of propylene in the market has fluctuated upwards, with clear macroeconomic support. The spot market price has fluctuated upwards, but the enthusiasm for downstream market replenishment is limited, and there is a clear wait-and-see attitude among market participants. Currently, it is expected that the propylene market price will adjust narrowly in the short term, but it is still necessary to closely monitor downstream demand follow-up in the later stage.
The closing price of crude oil has risen significantly, and the price of propylene monomer during the holiday has also increased. With the gradual adjustment of enterprises, as of October 9th, the benchmark price of propylene in Shengyi Society was 6800.75 yuan/ton, an increase of 4.41% compared to the beginning of this month (6513.25 yuan/ton).
In terms of demand
The price of butyl acrylate has decreased. This week, the butyl acrylate market has slightly declined, and the trading atmosphere in the market is quiet. Downstream manufacturers have a heavy wait-and-see attitude, and transactions are mainly dominated by first-time contract holders. The focus of butyl acrylate quotations is gradually shifting downwards, and the upstream cost support is also limited. In the short term, it is expected that the butyl acrylate market will continue to remain weak, and it is recommended to purchase according to demand.
In summary, the acrylic acid market is maintaining a stable operation, while the upstream acrylic acid market is fluctuating within a range. The listed prices of production enterprises are fluctuating, and the listed prices of acrylic acid manufacturers are temporarily stable. The trading atmosphere on the market is flat, and the overall production capacity is at a low level with limited fluctuations. The downstream market’s enthusiasm for receiving goods needs to be improved, and long-term contracts are mainly executed. The short-term market may continue to consolidate and operate.
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