The reason why the acrylic acid market was able to report stable prices this week mainly relies on producers' "price support intentions." As of February 3, the benchmark price of acrylic acid on Business Society was 6,116.67 yuan per ton, unchanged from the beginning of the month.

1. Cost Side: Raw material propylene fluctuated within a range, and the slight weakening of the cost side is the most critical turning signal. The core logic supporting prices over the past few months—"cost-driven pricing"—is losing effectiveness. As of February 3, the benchmark price of propylene on Business Society was 6,391.00 yuan per ton, down 0.21% from the beginning of the month (6,404.33 yuan per ton).
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2. Demand Side: The strong wait-and-see atmosphere at the beginning of the week directly highlights the weakness in demand. Downstream demand exists, but buyers are generally "waiting for price declines" or "purchasing as needed." This mentality has deprived the market of the "fuel" for price increases, leading to sluggish trading. As the Spring Festival approaches, terminal factories are gradually shutting down for holidays—an irreversible seasonal negative factor. Demand contraction is shifting from expectation to reality, and this downward pressure will only intensify.

Market Status: The current "price stability" is a fragile, weak balance. It is not a healthy stability driven by strong supply and demand but rather a temporary stalemate in a downward trend, formed by sellers' reluctance to lower prices and buyers' unwillingness to purchase. Both buyers and sellers are deadlocked at the "price" threshold, but time is moving toward the Spring Festival, when demand will weaken further, and the balance is quietly tilting.

Outlook:

• Short-term (Pre-holiday): This "price without market" stalemate may persist for a few more days, but the exhaustion of patience on either side could break the balance. If a major producer decides to "offer discounts to recoup funds" or if propylene prices decline further, it could trigger a small, tentative price drop.
• Post-holiday: The real directional shift will occur after the Spring Festival. Two key factors will determine the market trend: first, whether the pace of downstream resumption of work and restocking efforts can quickly revive demand; second, the extent of inventory pressure on upstream raw materials and producers. If work resumption falls short of expectations and inventories remain high, post-holiday pressure may be released in a concentrated manner.

Conclusion: The current "stable operation" should be viewed more as a stalemate platform or buffer stage within a downward trend rather than a signal of a trend reversal. Under the dual influence of weakening costs and seasonal demand weakness, the risk of a downward market adjustment outweighs the likelihood of an upward breakthrough.