Recently, the acrylic acid market has been continuously rising, with active trading last week, leading to a strong bullish atmosphere within the market. Both acrylic acid and propylene have seen some degree of increase, but with sufficient inventory in enterprises and a wait-and-see attitude in downstream markets, it is expected that the acrylic acid market will remain stable in the short term. As of October 25th, the benchmark price of acrylic acid in Shengyi Society was 6825.00 yuan/ton, an increase of 0.74% compared to the beginning of this month (6775.00 yuan/ton).

In terms of cost

This week, the price of propylene in the market fluctuated and increased, international oil prices fluctuated and rose, propane prices remained stable and upward, and under the positive guidance of supply and demand combined with cost, the center of gravity of propylene market prices was pushed up. Downstream operators’ enthusiasm for entering the market to replenish goods was still acceptable, and the overall transaction atmosphere in the market was good, supporting manufacturers’ quotations to rise. As of October 25th, the benchmark price of propylene in Shengyi Society was 6865.75 yuan/ton, an increase of 5.41% compared to the beginning of this month (6513.25 yuan/ton).

In terms of demand

This week, the market for butyl acrylate has been consolidating. Last week, the market for butyl acrylate rose mainly due to the increase in upstream acrylic acid prices, coupled with the control of butyl acrylate manufacturers, resulting in a tight supply of goods in the market. Various butyl acrylate manufacturers have a strong mentality of raising prices. After entering this week, the market for butyl acrylate has slightly stagnated, and it is expected that butyl acrylate will continue to maintain a sideways trend in the short term.

Overall, some enterprises have resumed work, supplementing local sources of goods and easing local supply shortages. On the demand side, the downstream maintains a strong demand for raw materials and restocks, but has a general intention to accept goods at high prices. In the absence of overall supply and demand pressure, the acrylic acid market is expected to remain strong in recent times, with prices continuing to rise strongly. We still need to continue to pay attention to market mentality, downstream order follow-up, and other situations.