1、 Market price trend
1. Price increase
Due to the dual effects of tight spot supply and increasing downstream demand, the price of acrylic acid in the market is showing an upward trend. The price of acrylic acid varies in different regions and manufacturers, but overall it shows an upward trend. As of May 20th, the benchmark price of acrylic acid in Shengyi Society was 7600.00 yuan/ton, an increase of 0.89% compared to the beginning of this month (7533.33 yuan/ton).
2. Active market atmosphere
With the rise in acrylic acid prices, the market atmosphere has become more active. Some downstream enterprises have begun to actively stock up to cope with potential supply shortages in the future.
2、 Demand side
1. Downstream demand growth
With the economic recovery and the increase of industrial production activities, the demand for acrylic acid in downstream industries such as coatings, adhesives, textile auxiliaries, and water treatment agents is gradually increasing. The growth of downstream demand has further driven up the price of acrylic acid in the market.
2. Inventory management
Some downstream enterprises may adopt a wait-and-see attitude, replenishing as needed instead of stockpiling in large quantities, which to some extent exacerbates the situation of tight spot supply.
3、 Supply side
Due to the increase in raw material supply, equipment maintenance, environmental requirements, or uneven distribution of production capacity, some acrylic acid production enterprises have limited production capacity and reduced the supply of acrylic acid in the market. As of May 20th, the benchmark price of propylene in Shengyi Society was 6645.75 yuan/ton, an increase of 1.14% compared to the beginning of this month (6570.75 yuan/ton).
Although new production capacity is about to be put into operation, there is uncertainty in the progress of production and effective output, which makes market participants more cautious in evaluating supply.
4、 Future prospects
Considering the expected reduction in overseas supply and the high concentration of domestic production capacity distribution, the tight supply situation in the acrylic acid market may continue for some time. Therefore, in the foreseeable future, the market price of acrylic acid may continue to operate at a high level.
With the intensification of market supply and demand contradictions and the continuous rise in raw material costs, the price fluctuations in the acrylic acid market may further increase. Investors and downstream enterprises need to closely monitor market dynamics and price changes in order to adjust their investment strategies and procurement plans in a timely manner.
In summary, the tight supply of spot goods is one of the main reasons for the rise in the price of acrylic acid in the market. The future price trend of the acrylic acid market will depend on the combined effects of various factors such as supply, demand, and market competition.
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