Morning Market Update: Acrylic Emulsion

I. Key Focus Points

1. Sep 28: US-Iran relations remain in a stalemate, sustaining market concerns over supply risks and driving up international crude oil prices. NYMEX WTI crude oil futures (November contract) closed at $92.60/bbl, up $0.19/bbl (+0.21% MoM); ICE Brent crude oil futures (November contract) closed at $105.28/bbl, up $0.96/bbl (+0.92% MoM). China INE crude oil futures (November 2026 contract) rose by 9.3 to 734.1 CNY/bbl during the day session but fell by 22.5 to 711.6 CNY/bbl during the night session.
2. Domestic MMA market prices declined yesterday. Buying interest was weak, with holders lowering their offer prices. Market sentiment remained largely wait-and-see, with inquiries primarily driven by rigid demand. Fundamental changes are limited in the short term; therefore, the domestic MMA market is expected to have limited room for adjustment in the near future.
3. The domestic butyl acrylate market traded within a narrow range yesterday. Upstream propylene fluctuated upwards, while raw material n-butanol saw a slight decline. Cost pressures on butyl acrylate persisted. Holders adjusted offers flexibly according to market conditions. Downstream buyers purchased on an as-needed basis, mainly focusing on inventory digestion, with limited proactive procurement. Overall market negotiations stabilized within the previous range. Today, n-butanol is expected to undergo significant fluctuation and adjustment. The butyl acrylate market is projected to trade within a narrow range. Attention should be paid to subsequent changes in market supply and downstream demand.

II. Price List

Unit: CNY/ton

(Note: "丙烯酸异辛酯" typically refers to 2-Ethylhexyl Acrylate (2-EHA), though sometimes translated loosely or confused with Isobornyl Acrylate depending on specific plant context; standard translation is 2-Ethylhexyl Acrylate.)

III. Market Outlook

Yesterday, the MMA market experienced a slight decline. Styrene and butyl acrylate markets remained largely stable with minor fluctuations. Changes on the cost side were limited. Acrylic emulsion manufacturers and holders maintained stable pricing in their offers. With holidays approaching, downstream users adopted a "buy-as-needed" strategy. Market negotiations remained steady. It is expected that raw material markets will maintain range-bound trading today, keeping costs relatively stable. Downstream enterprises may place small orders for pre-holiday restocking. Emulsion manufacturers and holders are likely to continue offering stable prices to clear inventory. Market transactions are expected to remain steady. Future attention should focus on dynamics in raw materials such as butyl acrylate, MMA, and styrene, as well as downstream market trends.