SunSirs: The Acrylic Acid Market Rose First and Then Fell in August

　　Price trend

　　In August, the acrylic acid market first rose and then fell, and the overall trend rose. According to data from SunSirs’bulk list, as of August 31, the average price of acrylic acid in East China was 15,266.67 RMB/ton, which was an increase of 5.77% compared with August 1, and an increase of 49.67% in a three-month cycle.

　　Analysis review

　　In the first half of August, the acrylic acid market stabilized after rising. Entering August, some factories were overhauled one after another. The continued tight spot supply was the main factor supporting the price increase. The market transaction atmosphere was acceptable. As prices rose to high levels, downstream resistance to high-priced raw materials gradually increased, the enthusiasm for inquiries was average, and they purchased mainly on demand. The price was running smoothly at a high level. In the second half of August, the acrylic acid market weakened. Holders were actively shipping mainly, but the demand side was weak, and the downstream enthusiasm for entering the market was not high. They were more cautious and wait and see, and the focus of market negotiation was down.

　　In the upstream propylene, according to data from SunSirs’bulk list, the domestic propylene (Shandong) market price first declined and then rose in August. The average market price at the beginning of the month was 7,824 RMB/ton, and the average price at the end of the month was 7,782 RMB/ton, a 0.55% monthly decline.

　　Market outlook

　　According to the acrylic acid analysts of SunSirs, the current cost support is limited, and the holders are actively shipping, the downstream inquiries and buying are sluggish, and the market atmosphere is weak. It is expected that the acrylic acid market may be weakened in the short term. For more information, it is needed to pay attention to market news guidelines.