On March 11, the Chinese acrylonitrile market remained stable and organized

March 11th, according to news,

On March 11, the acrylonitrile market in China was generally stable. Today, the acrylonitrile prices at the East China ports decreased, with the main self-pickup reference price ranging from 10,800 to 11,000 CNY/ton, a decrease of 200 yuan at the high end and an increase of 100 yuan at the low end compared to the previous trading day. In the Shandong region, the main negotiation reference price for delivery within the area was around 10,750 to 10,850 CNY/ton, a decrease of 150 yuan at the high end and no change at the low end compared to the previous trading day.

Analysis: The market believes that the conflict between Iran and Israel may end faster than expected, coupled with the possibility that the G7 group will not rule out releasing strategic reserves, leading to a decline in international oil prices. The price of propylene, a raw material, has quickly dropped to around 8,800 CNY/ton, causing significant fluctuations in costs. The operating load of Zhenhai Refining & Chemical's 400,000 tons/year acrylonitrile unit has decreased to around 80%, reducing supply. Market concerns still exist, and major acrylonitrile suppliers have maintained their quotations. Sinopec's acrylonitrile product listing prices in East China and North China are currently stable at 10,700 CNY/ton.

Forecast: The external situation remains uncertain, and upstream product prices are subject to fluctuations driven by international oil prices. Market sentiment remains cautious, and the leading supplier of acrylonitrile has maintained its quoted prices. The spot market is also largely taking a wait-and-see approach. Overall trading activity remains limited, and prices are currently stabilizing and consolidating.