1、 Price trend
This week, the spot price of acrylic acid rebounded from the previous decline. Monitoring data shows that as of June 16th, the benchmark price of acrylic acid in Shengyi Society was 8516.67 yuan/ton, an increase of 2.00% compared to the beginning of this week (8350.00 yuan/ton). The market center of gravity has slightly shifted upwards.
2、 Supply and demand and cost fundamentals
1. Cost side
The upstream raw material propylene market has fallen, and the production cost of acrylic acid lacks strong support. The industry’s production profit recovery space is limited, and the willingness of factories to actively and significantly increase spot prices is not strong. This round of price increase is not cost driven. As of June 16th, the benchmark price of propylene in Shengyi Society was 8667.67 yuan/ton, a decrease of 5.11% compared to the beginning of this month (9134.33 yuan/ton).
2. Demand side
The core driving force behind the slight increase in prices in this round comes from downstream demand follow-up. Downstream acrylic ester and special ester enterprises mainly consume long-term contract goods in the early stage, and some terminal enterprises replenish inventory at low prices. The spot market transactions have rebounded, and holders have adjusted their offers according to the market, driving the market price center to rise; But there is no large-scale centralized replenishment action downstream, and the demand increment is limited, making it difficult to drive the market to soar significantly.
Future prospects
In the short term, the positive news of downstream demand replenishment still has continuity, coupled with the bottom reversal signal of the moving average, acrylic acid spot may maintain a slightly strong operation; However, there is no support on the raw material side, and there is no significant increase in overall downstream production. The market lacks the core driving force for sustained growth.
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