Morning Market Update: Acrylic Emulsion

I. Key Points

1. On September 18, international crude oil prices fell due to improved expectations for the repair of Saudi Arabian oil pipelines and signs of easing tensions in the Middle East. The NYMEX WTI October contract dropped $1.61/bbl to $100.30, a -1.58% change; the ICE Brent November contract fell $0.95/bbl to $103.87, a -0.91% change. The INE Crude Oil Futures November 2026 contract decreased by 50.6 yuan to 754.4 yuan/barrel, with the night session falling another 19.6 yuan to 734.8 yuan/barrel.

2. Yesterday, domestic MMA market prices remained stable. Cost-side support persisted as holders maintained firm selling prices, while downstream purchasing sentiment was mediocre, leading to a wait-and-see attitude in the market. The short-term domestic MMA market is expected to remain in a stalemate.

3. Yesterday, the domestic butyl acrylate market fluctuated with a weak trend. Upstream propylene weakened slightly within a narrow range, feedstock n-butanol remained stable, and cost pressures for butyl acrylate were largely steady with minor fluctuations. Factory offers stabilized, while some holders adjusted their quotes flexibly to actively increase sales volumes. Downstream enterprises made small-volume inquiries based on rigid demand, resulting in strong wait-and-see sentiment and generally weak negotiations across the market. Today, n-butanol is likely to trade sideways with fluctuations, and the butyl acrylate market is expected to remain stable. Future developments will depend on changes in market supply and downstream demand.

II. Price Table

Unit: Yuan/ton

III. Market Outlook

Yesterday, butyl acrylate weakened slightly within a narrow range, the styrene market rose modestly, and the MMA market remained temporarily stable. High costs continued to provide support. Producers and holders of acrylic emulsions maintained stable pricing and focused on increasing sales volume. Downstream enterprises gradually began pre-holiday stockpiling, keeping the market stable. In the short term, raw material prices may dip slightly, potentially alleviating cost pressure marginally. However, with the holiday approaching, rigid demand for restocking is expected to follow suit. Emulsion producers and holders are likely to maintain stable offers, suggesting that market negotiations will remain steady in the short term. Future attention should be paid to dynamics in butyl acrylate, MMA, styrene raw materials, and downstream markets.