Core Market Performance:

After experiencing a frenzied surge in March, the acrylic acid market finally hit the "pause button" in early April—even showing faint signs of "weakening." As of April 8, the benchmark price for acrylic acid, as reported by SunSirs, stood at 13,083.33 RMB/ton. Although this price remains within a historically high range, it marks a slight decline of 0.25% compared to the 13,116.67 RMB/ton recorded at the beginning of the month.

Analysis of Core Market Drivers

1. Supply Side: Acrylic acid prices have been on a continuous upward trend since March and are currently hovering at historic highs. Manufacturers enjoy ample profit margins, and operating rates remain elevated; however, some enterprises have scheduled maintenance shutdowns. Coupled with the high-level pricing of the key feedstock—propylene—cost-side factors provide strong support for current price levels. With no significant near-term increase in supply volume, the market remains in a state of tight overall balance.

2. Demand Side: Operating rates in downstream sectors—such as acrylate esters and Super Absorbent Polymers (SAP)—remain moderate. As terminal demand enters its traditional off-season, downstream enterprises are reluctant to accept current high price levels; consequently, purchasing is largely limited to immediate, essential needs, and the willingness to stockpile remains low. The demand side is therefore unable to sustain further price appreciation, emerging as the primary downward pressure driving the market's recent weakening.

3. Cost Side: As a key feedstock for acrylic acid, propylene prices have recently remained at elevated levels. Consequently, acrylic acid production costs remain persistently high, leaving manufacturers with little inclination to lower prices; this provides underlying support for market prices and limits the potential for price declines. As of April 8, the benchmark price for propylene—according to SunSirs—stood at 9,591.00 RMB/ton, representing a 9.18% increase compared to the beginning of the month (8,784.33 RMB/ton).

Market Outlook

In summary, the acrylic acid market this week maintained a high-level, volatile trend, with prices edging slightly lower; the interplay between supply and demand served as the central driving force. Strong support from the cost side limited downside potential, while weak demand dampened upward momentum. A short-term pattern of volatility followed by a medium-term weakening is the most probable trajectory; market participants are therefore advised to exercise caution and largely adopt a wait-and-see approach.

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