Acrylic Acid and Ester Market Analysis Weekly (Nov. 26- Nov. 30)

Ⅰ. This week's market overview

Acrylic acid, this week the domestic acrylic acid market continues a weak downward trend, as of This Friday, the domestic acrylic acid east China mainstream offer 8400 yuan/ton. By the upstream raw material propylene continued to fall substantially, the factory offer to fill the main drop. Downstream overall start-up load is average, the demand for acrylic acid performance is average. In terms of refined acid, the overall trading atmosphere in the domestic refined acid market continues to run in a stalemate this week. As of This Friday, the mainstream offer of domestic refined acid in East China is 9000 yuan/ton.

Butyl acrylate, this week the domestic butyl acrylate market continues to decline, as of This Friday, butyl acrylate east China market offer 9400 yuan/ton. Raw material costs continue to weaken, downstream with the use of mining, the market is bearish, the market supply and demand contradiction is still.

Ⅱ. Supply side analysis

On the supply side, this week's domestic acrylic acid plant operating rate of 68.4%. Qilu Kaitai and CNOOC units are operating normally this week. With the restart of the shutdown device, the industry's starting load has been gradually pulled back.

The butylacrylate plant operating rate was 65.7%, qilu Kaitai and CNOOC butylacrylate plant resumed operation, and Shanghai Huayi is expected to restart in early December.

Ⅲ. Raw material market analysis

This week, the price of propylene in Shandong market rebounded after falling. By Friday, the price of propylene in Shandong market was 7400-7500 yuan/ton, while that in East China market was 7450-7500 yuan/ton. On the supply side, the external supply is abundant. Refinery shipments blocked, inventory pressure continued to rise resulting in a substantial profit transaction. On the demand side, the load of some downstream powder factories decreased, the butanol plant of Sichuan Petrochemical stopped, and the n-butanol plant of Tianjin Bohua Yongli reduced production, and the overall buying intention of downstream was relatively depressed. Affected by PP futures rebound, downstream bottom - filling positions, the volume of market volume. Into next week, the overall supply of propylene market is abundant, downstream demand is also expected to improve. Propylene market is expected to rise next week or steady.

This week, the domestic n-butanol market is mainly arranged sideways, and the market price in East China is 6400-6450 yuan/ton by Friday. Affected by propylene market price decline, part of the n-butanol device production support market. Despite weak downstream demand, the current domestic market price of N-butanol has fallen to a relatively low level. Into next week, propylene rebound is expected to still exist, and n-butanol supply and demand contradiction has been alleviated, n-butanol is expected to narrow shock finishing next week.

Ⅳ. Market forecast for Thursday and next week

On the supply side, starting load of acrylic and ester units will return to a higher level with the gradual restart of shutdown maintenance units.

On the demand side, the weather gradually turned cold, and there was no sign of improvement in downstream demand receiving, so low inventory operation was maintained.

Cost side, raw material propylene weak support.

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