SunSirs: Acrylic Acid Market Was Running Weakly (November 11-17)

　　Price trend

　　According to data from SunSirs’bulk list, as of November 17th, the average price of acrylic acid in East China was 17,400 RMB/ton, which was 0.95% lower than the price on Thursday (11th) and fell by 5.95% compared with the price on October 17th.

　　Analysis review

　　This week (11.11-11.17) the acrylic acid market was weak. Recently, the price of raw material propylene had weakened, cost support had weakened, and market supply had been abundant, but the demand side had been weak, downstream buyers were cautious, operating enthusiasm was not high, and the wait-and-see atmosphere was strong. High-priced transactions were weak in the market, and acrylic acid prices fell weakly.

　　In the upstream propylene, the propylene market in Shandong was adjusted downwards on the 16th by 100 RMB/ton and the average price of propylene in Shandong was 7,792 RMB/ton, a decrease of 1.33% from the price on the 15th. The downstream buying gas was insufficient, especially polypropylene, the main demand for propylene, whose market was weak and difficult to change. In order to smoothly sell the goods, propylene companies lowered their prices. The propylene market has no obvious positives for the time being, and it is expected to run weakly in the near future.

　　Market outlook

　　According to the acrylic acid analyst of SunSirs, the current price of raw material propylene is declining, the cost support is insufficient, and the market demand is sluggish, and the supply is relatively sufficient. It is expected that the acrylic acid market may run weakly in the short term.