Price trend
According to data from SunSirs’bulk list, as of July 20, the average price of acrylic acid in East China was 12,533.33 RMB/ton, an increase of 5.04% compared with July 11, and an increase of 17.13% compared with June 20.
Analysis review
The acrylic acid market rose steadily in early July, up 5%. In mid-July, the acrylic acid market continued to rise. On July 20, the acrylic acid market continued a slight upward trend. Industry inventories were low, and the spot supply in the market was tight, which supported the steady increase in the focus of market negotiations. The downstream purchases were mainly on-demand, and the market atmosphere was acceptable.
Upstream propylene, according to data from SunSirs’bulk list, as of July 19, the reference price of propylene was 7,673.09, an increase of 0.36% compared to the previous trading day. The downstream procurement enthusiasm was still acceptable, and the market rose slightly.
Market outlook
According to the acrylic acid analysts of SunSirs, the current upstream propylene price is relatively strong, and the cost support has been strengthened. The downstream demand purchases mainly on-demand. Supported by tight supply, it is expected that in the short term, the acrylic acid market may continue to operate strongly, and more attention needs to be paid to market news guidance.
