After hovering at the bottom for nearly two weeks, the domestic acrylonitrile market price showed a fluctuating rebound trend towards the end of the month. As of March 31st, the mainstream negotiation for container self pickup in East China ports is around 8900-9100 yuan/ton, with a price increase of 300-400 yuan/ton compared to the mid low point (8600-8700). The price for short distance delivery in Shandong market is around 8900-9100 yuan/ton, with a price increase of 300-400 yuan/ton compared to the mid low point (8600-8700).
Gamma-PGA (gamma polyglutamic acid) |
Supply phase reduction
Some facilities in East China and Shandong have reduced or undergone maintenance. According to statistics, as of March 27th, the average capacity utilization rate of the domestic acrylonitrile industry reached 82.69%, a decrease of 6.49% from the mid month high of 89.18%. Therefore, there will be a temporary reduction in supply in the short term.
Industry inventory has slightly decreased
After the initial low price inventory reduction, the industry’s inventory has slightly decreased. According to statistics, as of March 27th, the inventory of domestic acrylonitrile factories was about 51000 tons, a decrease of 0.1 million tons from the mid month high. Although the inventory is still high, there is no pressure.
Downstream demand has rebounded slightly
The capacity utilization rate of major downstream industries of acrylonitrile has rebounded, among which the ABS capacity utilization rate is 72.8%, an increase of 1.3% from last week, and raw materials are purchased on demand.
Market forecast: The domestic acrylonitrile market is expected to fluctuate and rise, with industry capacity utilization gradually decreasing. There are also many maintenance plans in the second quarter, and new production capacity has not yet been released, resulting in a temporary reduction in supply in the short term. Moreover, after the initial low price inventory reduction, there is currently no pressure on the industry’s inventory, which provides conditions for market growth. However, considering that the overall supply is still abundant, the short-term market growth ma
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y still be limited.