Weekly Market Outlook for Acrylic Emulsion

I. Key Points

1. September 25: Iran proposed a seven-day plan to the United States to advance peace talks. If accepted by the U.S., the Strait of Hormuz would be fully reopened, leading to a drop in international crude oil prices. The NYMEX WTI crude oil futures contract for November delivery closed at $92.41/bbl, down $2.20 (-2.33% WoW). The ICE Brent crude oil futures contract for November delivery closed at $104.32/bbl, down $2.28 (-2.14% WoW). China’s INE crude oil futures market was closed due to the Mid-Autumn Festival holiday.

2. Last week, the domestic MMA (methyl methacrylate) market trended slightly weaker with narrow fluctuations. In late September, holders focused on offloading inventory, with some offers decreasing. Downstream inquiries were sparse, and negotiations showed no significant improvement. Holders remain willing to sell before the holiday; therefore, substantial changes in the market are not expected today.

3. Last week, the domestic butyl acrylate market consolidated at high levels before trending downward amid volatility. Upstream propylene prices fell from highs, and feedstock n-butanol also declined amidst fluctuations. Cost pressures for butyl acrylate continued to shrink. Coinciding with the end of the contract period, holders adopted an active selling stance, offering flexible prices based on market conditions. Downstream buyers purchased on demand, primarily consuming existing inventories, with weak stocking sentiment. Overall, transaction prices fluctuated downward. It is anticipated that n-butanol will continue to trade weakly today. The butyl acrylate market is expected to consolidate weakly. Future attention should focus on changes in market supply and downstream demand.

II. Price List

Unit: CNY/ton

III. Market Outlook

Last week, both the butyl acrylate and MMA markets experienced narrow declines. Styrene initially fell then rebounded. Cost-side pressure eased slightly. Acrylic emulsion plants and holders maintained stable pricing offers. Downstream users purchased based on rigid demand, keeping negotiations steady.

It is expected that raw material markets will maintain range-bound trading today, with cost structures remaining largely stable with minor fluctuations. As the holiday approaches, downstream enterprises are primarily restocking based on essential needs. Emulsion plants and holders are likely to offer stable prices to facilitate sales. Consequently, market transactions are expected to remain steady. Future developments should monitor upstream materials such as butyl acrylate, MMA, and styrene, as well as downstream market dynamics.