The recent supply and demand pattern of the acrylic acid market is an important factor affecting its price trend. This week, the supply and demand pattern in the acrylic acid market remains tight, which is one of the main reasons driving its price upward.
1. Market price trends
As of November 5, the benchmark price of acrylic acid in the business community was 6850.00 yuan/ton, an increase of 0.18% compared with the beginning of this month (6837.50 yuan/ton). The market price of acrylic acid in East China is 6600~6650 yuan/ton, and the market price of acrylic acid in South China is about 6650~6700 yuan/ton, which has increased by 50 yuan/ton compared with the beginning of the month. This upward trend is consistent with the continuous upward trend of the previous market conditions, showing the strong momentum of the acrylic acid market.
2. The market supply and demand
Supply side: Recently, some enterprises have resumed work, supplementing local supply and alleviating local supply tensions. However, due to the rise in the price of raw materials such as acrylic acid and propylene, the production cost of some manufacturers has increased, resulting in a certain impact on market supply. Despite this, the overall supply side remained stable, providing sufficient support for the market.
Demand side: The demand for acrylic acid in downstream industries has maintained steady growth. With the economic recovery and the increase in industrial production activities, the demand for chemical raw materials such as acrylic acid in downstream industries is gradually rising. However, due to rising prices, some downstream companies may take a wait-and-see attitude and replenish stocks on demand, rather than stockpiling large quantities.
3. Cost of raw materials
The price of propylene, the raw material for acrylic acid, has also risen recently, which has increased the cost of producing acrylic acid. In order to maintain the profit level, some manufacturers have had to reduce supply or increase the selling price, which further pushes up the market price of acrylic acid. The rise in raw material costs is also one of the important reasons why the acrylic acid market continued to rise this week. As of November 5, the benchmark price of propylene in the business community was 6843.25 yuan/ton, an increase of 0.85% compared with the beginning of this month (6785.75 yuan/ton).
4. Market atmosphere
With the rise in acrylic acid prices and the intensification of the contradiction between supply and demand in the market, the market atmosphere has also become more active. Some downstream companies have begun to actively stock up to cope with possible supply shortages in the future. At the same time, some investors have also begun to pay attention to the acrylic acid market and seek investment opportunities. This buoyant market sentiment and active participation of investors have also further boosted the upward trend of the acrylic acid market.
5. Market outlook
Price trend: Under the favorable guidance of the supply and demand side and the cost side, the market price of acrylic acid is expected to continue to rise. However, as prices continue to rise, the acceptance of downstream businesses may be limited, so the price increase may gradually slow down.
Market mentality: The bullish atmosphere in the market is strong, but the downstream wait-and-see mentality is gradually emerging. Some downstream companies may adopt a more cautious procurement strategy to deal with the risks brought about by price fluctuations.
To sum up, the continuation of the upward trend in the acrylic acid market this week is the result of a combination of factors. In the future, the contradiction between supply and demand in the acrylic acid market will continue to exist and may affect its price trend. Investors and downstream enterprises need to pay close attention to market dynamics and price changes in order to adjust investment strategies and procurement plans in a timely manner.
source：chemct.cn
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