Commodity Market Update:

According to the SunSirs Commodity Market Analysis System, the prevailing domestic market prices for polyacrylamide (CPAM—cationic, molecular weight 12 million, 10–30% ionicity) rose during April. On the 29th, the market's mainstream quoted price stood at approximately 14,200 RMB/ton—an increase of 3.65% compared to the 13,700 RMB/ton recorded at the beginning of the month. In early April, polyacrylamide manufacturers collectively raised their quoted prices, directly shifting the market's central price level upward. As downstream buyers' acceptance of these higher prices gradually improved, market pricing transitioned from passively tracking the upward trend to actively stabilizing; consequently, the industry's bullish sentiment settled into a steady state after the middle of the month.

The production of polyacrylamide relies critically on upstream raw materials such as vinyl cyanide. In April, vinyl cyanide market prices retreated from their previous highs; as of April 29, the average price of vinyl cyanide stood at 10,533.33 RMB/ton—a decline of 9.46% compared to the 11,633.33 RMB/ton recorded on April 1. Throughout April, the vinyl cyanide market shifted from stability to weakness, experiencing a significant downward trend in prices. Downstream users demonstrated resistance to the high cost of raw materials; consequently, both ABS and acrylamide producers scaled back their operating loads, resulting in an overall decline in demand for vinyl cyanide.

On the downstream side, the spring season has witnessed the concentrated implementation of municipal sewage treatment upgrade projects and the continued tightening of industrial wastewater discharge standards. Consequently, there has been a significant surge in rigid demand for CPAM—particularly for high-molecular-weight, high-stability products—across sectors such as municipal sludge dewatering and chemical wastewater treatment. Meanwhile, increasingly stringent environmental inspections have restricted operations at certain small-to-medium-scale polymerization facilities, leading to a contraction in effective industry supply. This confluence of "rising demand and shrinking supply" has created a tight market equilibrium, driving prices upward.

Market outlook

In May, the supply-demand landscape in the vinyl cyanide market has yet to see any fundamental improvement; consequently, prices are expected to remain characterized primarily by weak fluctuations, offering only limited cost support for polyacrylamide. May remains the traditional peak season for municipal sewage and industrial wastewater treatment; thus, rigid demand in sectors such as sludge dewatering and chemical wastewater treatment will continue to be released, providing a certain level of underlying support for polyacrylamide prices. It is projected that polyacrylamide prices in May will likely exhibit a pattern of high-range volatility.

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