Supply tightening dominates the market, acrylic prices steadily rise

This week, the acrylic market price showed a narrow upward trend. As of September 17, the acrylic benchmark price was 6,416.67 yuan/ton, up 2.67% from the beginning of this month (6,250.00 yuan/ton). This indicates that the market as a whole is in a slow upward channel.
Supply:
Industry capacity utilization rate compared to the previous week (September 4, 72.84% vs. September 11, 74.40%) has improved, but some manufacturers and stockholders are more willing to go ahead and bid on the market, so that the market low price supply decreased.
Demand:
Downstream users are mostly on-demand procurement, the willingness to actively stock is not very strong, mainly digesting contract orders and existing inventory. This game between supply and demand is one of the main reasons for narrow price fluctuations.
Cost side: the price of the main raw material acrylic in Shandong region appeared a slight decline (6530-6570 yuan / ton, a drop of 50-80 yuan / ton). The cost support strength has been weakened, which makes the increase in the price of acrylic acid is limited to a certain extent, and there is no significant increase.
Market sentiment:
The mindset of traders is more positive, and the market is positive, but the market is actually trading (actual transaction) in general, both buyers and sellers are more cautious, with actual negotiations as the main.
Future Outlook
In the near future, it is expected that the domestic acrylic market may continue to operate strongly. It is important to note that the trend of raw material acrylic prices is still an uncertain factor. Follow-up of downstream demand is critical, if demand cannot be sustained, the sustainability of price increases may be limited. It is recommended that operators pay close attention to the device dynamics of major production enterprises and downstream inventory.
Overall, the acrylic market this week has achieved a narrow upward trend with good prices and support from stockholders in the context of weakening cost support and a slight increase in supply. The market shows a shocking pattern of “up resistance, down support”.