On March 11th, the domestic acrylonitrile market was basically stable. Today, the acrylonitrile market price in East China ports fell, and the mainstream self pickup reference price reached 10800-11000 yuan/ton, a decrease of 200 yuan from the previous trading day at the high end and an increase of 100 yuan at the low end; The reference price for mainstream negotiations in the Shandong region is around 10750-10850 yuan/ton, which is 150 yuan lower than the high-end price on the previous trading day, while the low-end price remains stable.
Analysis: The market believes that the Iran Israel conflict is expected to end faster than expected, coupled with the possibility of the G7 group releasing strategic reserves. International oil prices have fallen, and the price of raw material propylene has rapidly fallen to around 8800 yuan/ton, causing a wide range of cost fluctuations; The current operating load of the 400000 tons/year acrylonitrile plant at Zhenhai Refinery has dropped to around 80%, resulting in a decrease in supply; Market concerns still exist, and the main suppliers of acrylonitrile maintain their quotes. The listing prices of acrylonitrile products from Sinopec East China and North China are currently stable, at 10700 yuan/ton.
Prediction: The external situation is uncertain, and upstream products are affected by international oil prices, with prices fluctuating widely. Market concerns still exist, and the main suppliers of acrylonitrile maintain their quotes. The spot market is also mainly wait-and-see, and overall negotiations have limited fluctuations, with prices temporarily stabilizing and consolidating.
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