Acrylic Acid and Ester Market Analysis Weekly (10.8-10.12)

Acrylic acid, this week the domestic acrylic acid market before the National Day after stable offer ladder trend, as of This Friday, the price of domestic acrylic acid in East China 9,800-10,000 yuan/ton. After the holiday, as the price of propylene continues to rise, acrylic manufacturers push up the offer. A week after the market spot circulation is mainly early order source, new single offer progressive upward. In terms of refined acid, the domestic refined acid market is rising at a high level this week. It is the traditional sales season in the domestic super absorbent resin market. The order atmosphere of SAP manufacturers is getting better, and the working load is rising.

Butyl acrylate, this week the domestic butyl acrylate market presented a trend of increasing offers, as of This Friday, butyl acrylate east China market price at 11000-11100 yuan/ton. Due to the rising prices of raw materials propylene and n-butanol, the manufacturer's offer increased by about 500 yuan/ton compared with the pre-holiday offer, and the buyers followed the rising offer and held off selling at a low price. In addition, just need to digest steady, post-holiday buying recovery, trading atmosphere turned good, the high-end field has been implemented solid single, the overall market moved up.

On the supply side, this week's domestic acrylic acid plant operating rate of 77.9%, starting load compared with last week increased significantly. Shenyang Wax chemical and Shandong Hongxin resumed operation after the holiday, shengsection from one line to two lines of operation, Kaitai 30,000 tons/year acrylic plant stopped for maintenance.

The operating rate of butyl acrylate unit was 74.2%, and the load was back to high. Wan Chau, Qian Xin, Waxing and Hongxin are all restarting this week.

This week the market spot circulation is mainly pre-order sources, manufacturers inventory low.

This week, the high level of the domestic propylene market continues to rise. As of Friday, the price of propylene in Shandong market is 10,150-10,200 yuan/ton, and that in East China market is 9,900-10,100 yuan/ton. On the supply side, refineries have entered the planned maintenance one after another, reducing the supply of propylene market. In addition, Hebei Haiwei stopped for maintenance during the National Day holiday, part of the demand was transferred to shandong refineries, thus contributing to the price rise of propylene market. On the demand side, post-holiday polypropylene period, spot price skyrocketed, and powder spot was tight, powder factory started load increased, and propylene demand was stable and improving. Enter next week, the supply side positive support continues, the demand side, at this stage powder spot supply is tight, some powder factories to improve the start of the load, to propylene buying willingness is still good. As the trend of polypropylene futures weaker, propylene subsequent up support or weakened. Next week is expected to be a large probability of propylene market consolidation, pay close attention to the price trend of polypropylene futures.

This week, the domestic n-butanol market rose steadily, with the price of 8200-8250 yuan/ton in east China market as of Friday. Supported by high costs this week, the domestic n-butanol market rose by 100 yuan/ton on Tuesday. As raw material propylene drives the enthusiasm of downstream entering the market, the main factory pushes 100 yuan/ton again. Entering next week, the supply side is stable, and the downstream demand performance is stable. It is expected that the n-butanol market will rise slightly under the drive of cost next week.

On the supply side, pre-holiday maintenance enterprises have restarted after the holiday, and it is expected that the starting load of acrylic acid and butyl ester units will increase slightly next week. But acrylic acid spot supply is still tight.

On the demand side, the downstream buying recovery, as raw materials rise mainly replenishment.

On the cost side, raw material propylene supply and demand fundamentals are good, still maintain high prices, n-butanol is also a stable state, so acrylic acid and butyl ester cost side support continues to exist.

To sum up, the domestic acrylic acid and butyl ester market is expected to rise after the festival.