According to the Commodity Market Analysis System of Business Society, as of April 2nd, the average quoted price of acrylic acid in East China was 6625.00 yuan/ton, an increase of 5.79% compared to March 21st (the reference price of acrylic acid was 6262.50).

Since late March, the acrylic acid market has been continuously rising, mainly due to the cessation of decline and rise in raw material propylene prices, coupled with supply side inventory pressure, cost and supply support.

Factors affecting the price of acrylic acid:

Cost side: According to the commodity market analysis system of Shengyishe, since the end of March, the price of raw material propylene has stopped falling and rebounded, and costs have increased in the face of support from the acrylic acid market.

Supply and demand side: Since late March, some factory facilities have been shut down for maintenance, and the export market has performed well. The overall supply in the market has shrunk, and the support from the supply side is strong, which has boosted the price boosting mentality of the industry. As the end of the month approaches, some facilities in Shandong have resumed operation, and the supply side is still operating without pressure. The market’s low-priced supply has decreased, and the downstream operating load is low. Multi dimensional demand is mainly followed up, and the inquiry atmosphere is active. The mentality of purchasing high priced raw materials is still cautious.

Future Market Forecast:

From a cost perspective, the inventory of short-term raw material propylene enterprises is temporarily controllable, with downstream rigid demand procurement as the main source, which may still support the acrylic acid market. From the perspective of supply and demand, there is no pressure on short-term supply inventory, and companies have weak intentions to lower prices. The mentality of price support still exists, and downstream demand may continue to follow suit. It is expected that the acrylic acid market will remain strong in the short term, and more attention should be paid to changes in raw material propylene prices.