Supply side improvement, acrylonitrile market continues to decline slightly

This week (8.11-8.19), the acrylonitrile market continued to decline slightly. According to the Commodity Market Analysis System of Business Society, as of August 19th, the bulk water price in the acrylonitrile market was 8312 yuan/ton, a decrease of 1.04% from last Friday’s 8400 yuan/ton. At present, the self pickup price of acrylonitrile in the market is between 8200 to 8400 yuan/ton. The slight increase in raw material prices still provides cost support for acrylonitrile; Downstream construction has slightly increased compared to the early stage, and the demand for acrylonitrile has slightly increased compared to the early stage; The increase in the operation of acrylonitrile units has a certain negative impact on acrylonitrile.

This week (8.11-8.19), the domestic acrylonitrile production has remained stable, with a production rate of around 7.8%.

This week (8.11-8.19), the raw material propylene market slightly rose and fluctuated, and the cost of acrylonitrile continued to support. According to the Commodity Market Analysis System of Business Society, as of August 19th, the domestic propylene price was 6813 yuan/ton, a slight increase of 0.0774% compared to last Friday’s 6763 yuan/ton.

It is understood that downstream ABS prices have risen this week, with construction starting around 8.6%, a slight increase compared to the beginning of the month; The nitrile rubber orchidization plant was partially restarted, but Jinpu Yingsa shut down for maintenance, resulting in a slight decline in industry production, while acrylic fiber production remained at a low level. Overall, the downstream main industry of acrylonitrile has seen a slight increase in construction, while the demand for acrylonitrile support has slightly increased.

Future forecast: Acrylonitrile analysts from Business Society believe that the current supply pressure has increased and there is some support in the demand side. Overall, it is expected that the price of acrylonitrile in the market will fluctuate within a narrow range in the short term.