This week, the acrylic acid market remained stable with some gains. According to the Commodity Market Analysis System of Business Society, as of February 2nd, the average quoted price of acrylic acid in East China was 6187.50 yuan/ton, an increase of 0.20% compared to Monday (January 29th).
Factors affecting the price of acrylic acid:
Cost side: According to the commodity market analysis system of Shengyishe, the reference price of propylene on February 1st was 6843.25, a decrease of 0.36% compared to January 1st (6868.25). Recently, the price of raw material propylene has been weak, and the impact of cost on the acrylic acid market is limited.
Supply and demand side: There is not much inventory pressure on the supply side, which supports the mentality of enterprises to raise prices. Downstream procurement is cautious, with a focus on following up on just the right amount of demand. The market has a strong wait-and-see atmosphere, and with the support of the supply and demand side, the focus of negotiations in the acrylic acid market is stable but rising.
According to analysts from Business Society, as downstream pre holiday stocking gradually approaches its end, the market atmosphere may gradually slow down. It is expected that the acrylic acid market will remain stable in the short term, and more attention still needs to be paid to market news guidance.
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