The acrylic acid market has risen this week. According to the Commodity Market Analysis System of the Business Society, as of November 10th, the average quoted price of acrylic acid in East China was 6050.00 yuan/ton, an increase of 3.86% compared to Monday’s price.

Factors affecting the price of acrylic acid:

Cost side: According to the commodity market analysis system of the Business Society, the domestic propylene (Shandong) market has been on the rise since November. On November 9th, the reference price for propylene was 7353.25, an increase of 4.29% compared to November 1st (7050.75). This week, the raw material propylene was relatively strong, and the cost side supported the acrylic acid market strongly.

Supply and demand side: The overall operating rate of acrylic acid has decreased compared to the previous period, and the market supply has shrunk, supporting a high price mentality. Holders have reported an increase in prices, and downstream demand is mainly for follow-up. The wait-and-see sentiment is strong, and the market transaction atmosphere is average.

Acrylic acid analysts from Business Society believe that this week, supported by increased costs and reduced supply, acrylic acid prices have continued to rise. In the short term, cost and supply support still exist, but the enthusiasm for inquiry and procurement on the demand side is average. It is expected that the acrylic acid market will operate at a high level in the short term, and more attention should be paid to market news guidance.