Acrylic Acid and Ester Market Analysis Weekly Report (11.5-11.9)

Ⅰ. This week's market overview

Acrylic acid, this week the domestic acrylic acid market first stable after falling, as of This Friday, the price of domestic acrylic acid in East China 9900-10000 yuan/ton. At the beginning of the week, the manufacturer's offer remained stable, but the downstream revision was weak, the overall follow-up orders were limited, and the trading atmosphere was light. In addition, the price of raw material propylene continues to decline, and the manufacturers collectively reduce the price by 200-300 yuan/ton. In terms of refined acid, the domestic refined acid market has a weak downward trend this week. Manufacturers are falling steadily, and the solid orders of downstream terminals are mainly replenished according to the demand of steel. By This Friday, the domestic refined acid price in East China is 10,200-10,400 yuan/ton.

Butyl acrylate, this week the domestic butyl acrylate market price narrow range finishing, as of This Friday, butyl acrylate east China market price in 10900-11000 yuan/ton. This week overall downstream receiving single mood general, solid single transaction flat. In addition, there is no good support for raw materials, near the weekend factory to make up for the decline, leading to a narrow decline in high-end prices.

Ⅱ. Supply side analysis

On the supply side, this week the domestic acrylic acid plant operating rate of 72.9%. This week, the kaitai New Area and The Cnooc plant in Huizhou are still in a state of maintenance.

Butylacrylate plant operating rate is 65.4%, this week the Kaitai New Area and Huizhou Cnooc plant is still in the state of maintenance.

Late maintenance planning device: Shanghai Huayi Acrylic and ester stop maintenance; An acrylic plant of Ningbo Formosa Plastics is expected to stop for maintenance in November.

Ⅲ. Raw material market analysis

This week, the price of propylene in the domestic market rose and then fell back. As of Friday, the price of propylene in Shandong market was 8850-8950 yuan/ton, and that in East China market was 8850-9150 yuan/ton. On the supply side, low-price external inventory affects shandong and East China markets, and the enthusiasm of downstream buying decreases. Refineries slow down shipments and gradually accumulate inventory. Demand side, although the downstream powder production enterprises start load high, only affected by the bearish atmosphere, powder factory buying enthusiasm decreased, downstream demand flatly. Next week, it is expected that Haike petrochemical, Zhenghe petrochemical may resume shipment, port to ship still think of more, propylene market supply will gradually increase. On the demand side, the enthusiasm of downstream buying is not high in the bearish atmosphere, and the demand is general. It is expected that the domestic propylene market will continue to run weakly next week.

This week, the domestic n-butanol market continued its decline, with a relatively slow decline. As of Friday, the price in east China market was 7200-7300 yuan/ton. At the beginning of the week, Hualu Hengsheng converted from n-butanol to octanol, Tianjin Bohua Yongli reduced production, huachang stopped production, and the supply of n-butanol decreased. However, due to the influence of high social inventory and weak downstream demand, the market center kept falling. Entering next week, the supply and demand side is difficult to find positive support, the upstream and downstream wait-and-see atmosphere is strong, it is expected that the domestic n-butanol market will be stable next week.

Ⅳ. Market forecast for Thursday and next week

On the supply side, the plant operation rate is expected to be lowered next week, mainly because Shanghai Huayi Is scheduled to stop for maintenance. Spot supply on the market is stable and inventory is gradually accumulating.

On the demand side, the downstream overall drive is poor, weak demand. The conflict between supply and demand is expected to worsen next week.

On the cost side, raw materials propylene and n-butanol cost support is weak.

To sum up, acrylic acid and ester next week is expected to weak market.