Morning Market Update for Acrylic Emulsion

I. Key Points

1. On October 21, instability in the Middle East continued, but both Russia and Ukraine hinted at a willingness to engage in peace talks, leading to mixed movements in international crude oil prices. The NYMEX WTI December contract closed at $97.15/barrel, down $0.67/barrel (-0.68% WoW); the ICE Brent December contract closed at $108.82/barrel, up $0.03/barrel (+0.03% WoW). China INE crude oil futures contract SC2612 fell by 26.5 yuan to 700.8 yuan/barrel; the night session dropped another 10.5 yuan to 690.3 yuan/barrel.

2. Yesterday, the domestic MMA market remained largely stable. Holders focused on selling inventory; supported by costs, the intent for deep price cuts weakened, with some showing reluctance to lower prices further. Actual transactions were primarily small-scale negotiations. In the short term, significant changes in the domestic MMA market are unlikely.

3. Yesterday, trading levels in the domestic butyl acrylate market continued to decline. Upstream propylene remained weakly volatile, while raw materials n-butanol and acrylic acid also fluctuated downward simultaneously. Cost support for butyl acrylate decreased significantly. Holders quoted prices according to market trends, and low-price offers appeared frequently. Affected by the "buy high, don't buy low" mentality, downstream users mainly consumed existing inventories and fulfilled contract obligations, with limited active purchasing. Consequently, trading levels continued to fall. Today, the butyl acrylate market is expected to remain weakly stable. Attention should be paid to market supply and raw material price fluctuations going forward.

II. Price Table

Unit: CNY/ton

III. Market Outlook

Yesterday, raw material butyl acrylate declined, styrene rose slightly within a narrow range, and the MMA market remained stable. Cost-side support persisted. Acrylic emulsion manufacturers quoted prices and sold based on market conditions, while downstream users mostly purchased based on essential demand. Market activity was primarily driven by actual orders and direct negotiations. Today, the overall raw material market may trend stronger, maintaining pressure on costs. Acrylic emulsion manufacturers and traders are expected to maintain stable pricing quotes, with end-users negotiating based on specific needs. The acrylic emulsion market is likely to remain stable. Future attention should be paid to developments in raw materials such as butyl acrylate, MMA, and styrene, as well as downstream market dynamics.