Acrylic Acid Market Price Is Strongly Rising

The acrylic acid market exhibited a distinct, stepwise upward direction this week. As of October 14, the benchmark price to acrylic acid tracked by SunSirs stood at 8,966.67 RMB/ton, marking a 4.67% increase compared to the beginning of the month (8,566.67 RMB/ton).

Key Driver: A sharp rise in costs supports firm acrylic acid prices.

The primary driver behind this week's upward movement in acrylic acid prices is the strong upward pressure from the cost side.

Data shows that on October 14, the benchmark price to propylene (an upstream raw material) stood at 10,701.00 RMB/ton, marking a significant increase of 10.23% from the beginning of the month (9,707.67 RMB/ton).

The sharp surge in propylene prices has significantly driven up production costs to acrylic acid. Compelled by this cost pressure, acrylic acid producers have shown a strong determination to maintain price levels, raising their offers in tandem with the market direction, while low-priced supplies have rapidly dwindled.

Market Outlook

Overall, the acrylic acid market is currently benefiting from a combination of strong cost support and a technical breakout. In the short term, if upstream propylene prices remain high, the acrylic acid market is expected to maintain a direction of firm pricing.