Acrylic Acid price chart in United Arab Emirates
- 08 July 2024
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- Source: procurementresource
Acrylic Acid Price Trend for the Q2 of 2024
The Chinese market of acrylic acid witnessed oscillating market dynamics during the Q2 of 2024. In the first month of the quarter, the prices inclined at a gradual pace, supported by strong downstream demand from industries such as food, dairy, and pharmaceuticals and limited production activities. However, at the end phase of this month, the fluctuations in the raw material prices stabilized the acrylic acid prices.
Acrylic Acid Price Trend for the Q1 of 2024
Market prices for acrylic acid were observed to fluctuate throughout the discussed period of Q1’24. The price graph showed very confined movements as the prices wavered within a closed limit. The market started weak in China at the beginning of January as a dull demand outlook kept pushing the price trajectory downwards.
Even when the crude oil and feedstock prices increased it did not affect the prices much as the procurement was still largely unsatisfactory. Troubled by these dull demands, the suppliers acquired a wait-and-watch approach and controlled the bulk purchases to manage the market from the supply’s end. It did help a little as the rates started to improve as the quarter end approached; however, the market sentiments still remained largely muted.
Acrylic Acid Price Trend for the October - December of 2023
In October, the acrylic acid market faced a consistent decline marked due to a fall in raw material propylene prices. The traders faced challenges from weak downstream demand and a lack of acrylic acid inquiries. During the mid-phase of this quarter, unit shutdowns of several units put additional pressure on the traders. However, the market reversed during the end phase of the quarter as the downstream industries started showcasing interest in the acrylic acid market, and they dried up the existing inventories quickly, which acted as a green signal for the traders.
Acrylic Acid Price Trend for the July - September of 2023
The third quarter of 2023 resonated positively with the Acrylic Acid market trend. With India trying to maintain its growth momentum and China attempting to take their economic situations to pre- Covid times, the demands posed by acrylic acid-consuming sectors like detergents, chemicals, textiles, etc., supported the positive market outlook for Acrylic Acid.
Acrylic acid’s prices closed the third quarter at around 1425 USD/MT (CIF, India) in Sept’23 after starting at about 1395 USD/MT (CIF, India) in July’23 in the Indian domestic market. Furthermore, the Chinese domestic market closed the third quarter at about 885 USD/MT after starting at around 864 USD/MT in July’23. Overall, a positive market analysis was recorded for the Acrylic Acid during the said period.