Global Acrylic Acid Prices Easing On Wavering Demand Dynamics
- 05-Jul-2022 6:26 PM
- Journalist: Henry Locke
The latest assessment shows that the price of Acrylic Acid has declined in the global market during the second half of June 2022. As per the latest report, the Acrylic Acid price deteriorated in China and India during the final week of June, while the average price of the product remained dull across Europe and the Middle East.
ChemAnalyst data shows that Acrylic Acid prices have tumbled by around 1% during the latter half of June 2022 across the Asian market, owing to wavering demand fundamentals amidst stockpiled inventories in the country. China has been battling pandemic-related devastation in the country for the past couple of months, which abridged the domestic demand fundamentals for the products. Meanwhile, prices rose during the first half of the month in India, owing to inadequate supplies from the international market.
On the other hand, after witnessing a consistent price hike for several months, the German Acrylic Acid price slid by 4%, as it was already hovering at a very high value under the influence of the Russo-Ukrainian war. Since the threat of recession has hit Europe, traders have become more anxious about the pricing dynamics for raw materials. Thus, some of the major traders in Germany started offering discounts on bulk purchases to downstream consumers.
Malaysia and Saudi Arabia also faced similar market scenarios owing to lackluster demand from their respective market, which was opportune for domestic players to reduce their product prices. However, inflationary pressure has been a matter of concern for them. The data shows a decline of around 5% to 6% in both these countries.
As per the ChemAnalyst analysis, prices will likely keep tracing a downtrend in the coming month owing to stable demand dullness from the international market. However, the Indian market may fluctuate with will oscillating supply fundamentals. Additionally, the European market may start facing the effect of recession and the coming month, which may not allow prices to rebound.
