After the National Day holiday, the acrylic acid market did not show any weakness, but instead emerged with a strong trend of both quantity and price rising. The core feature of the market, the reduction of low prices in the market, is not only a phenomenon, but also a subtle concentration of supply and demand patterns.
Market situation: Strong start, shift focus upwards
As of October 10, 2025, the domestic acrylic acid market has made a strong start. The benchmark price of acrylic acid in Shengyi Society is 6983.33 yuan/ton, an increase of 4.23% compared to the beginning of this month (6700.00 yuan/ton). This increase is the result of the resonance of three factors: supply, cost, and mentality.
1. Supply side:
Active reduction in operating rate: Data shows that on October 9th, the average capacity utilization rate of the domestic acrylic acid industry dropped to 76.44%, a decrease of 1.45 percentage points compared to the previous month. This is not accidental. Some factories have reduced their inventory or stopped for maintenance before the holiday due to considerations of inventory and costs, resulting in a significant tightening of spot supply after the holiday.
Healthy inventory structure: Before the holiday, downstream and traders are cautious in stocking up, and social inventory is not high. After the holiday, facing the current situation of tight supply, the inventory pressure of channels and factories is generally not high, providing a solid foundation for sellers to raise prices.
2. Cost side:
As of October 10th, the benchmark price of propylene in Shengyi Society was 6588.25 yuan/ton, an increase of 0.69% compared to the beginning of this month (6543.25 yuan/ton). Still at a high level. Greatly enhanced the manufacturer’s determination to raise prices. They are no longer willing to engage in price wars, but instead unify market prices by reducing or canceling low-priced offers, which is the fundamental reason for the “reduction of low prices in the market”.
3. Demand side:
Replenishment of rigid demand: downstream industries (such as SAP, resin, lotion, etc.) have not seen explosive growth, but their rigid demand is still stable. There is a necessary need to replenish inventory after the holiday, and this’ hard demand ‘is sufficient to digest the current tight spot resources.
Market mentality shift: The signals of supply tightening and cost support are clearly transmitted to the market, and the mentality of both buyers and sellers changes. The seller has shifted from “actively shipping” to “reluctant to sell and maintain prices”, while the buyer has shifted from “watching and suppressing prices” to “receiving goods on demand” due to concerns about continued price increases or the disappearance of low-priced sources. This change in mentality has further accelerated the clearance of low-priced sources in the market and promoted the overall shift of the delivery center.
Summary: The current “strong operation” of the acrylic acid market is a phased victory under weak reality and strong cost/supply expectations. It more reflects the bottoming out effect of supply side contraction on prices when profits are extremely thin. Traders need to closely monitor the trend of upstream propylene prices, the operating plans of major factories, and the substantial order situation downstream, which will be key signals for determining the next direction of the market.

According to the Commodity Market Analysis System of Shengyi Society, the formic acid market has recently shown a weak consolidation pattern in a state of weak supply-demand balance. As of October 9th, the benchmark price of formic acid in Shengyi Society was 2933 yuan/ton, down 3.3% from before the holiday, down 8.9% month on month, and up 5.71% year-on-year.
Inventory release
On September 25th, manufacturers released reserved inventory and initiated a price adjustment mechanism, effectively reducing enterprise inventory from high levels to a median level of 55% -60%. Top enterprises such as Luxi Chemical maintain a low inventory strategy, while small and medium-sized enterprises face significant inventory pressure due to a high proportion of raw material purchases.
Weak performance on the demand side
The pre holiday market is in a stage of price adjustment, and some downstream enterprises have adopted moderate procurement strategies due to pre holiday stocking demand and price expectations. However, overall, the demand in the terminal market is still insufficient.
There is support for the price of raw material methanol
After the National Day holiday, the methanol market will enter a critical stage of upstream enterprises destocking and downstream enterprises restocking simultaneously. Due to the high operation of coal prices and the rise in natural gas costs, the downward space for methanol prices is limited, which will provide certain support for the cost of formic acid.
The formic acid data analyst from Shengyi Society believes that the current formic acid price has no significant upward momentum in terms of cost support and weak supply-demand balance, and is expected to maintain a weak and volatile trend.

According to the Commodity Market Analysis System of Shengyi Society, as of September 30th, the average production price of ethyl acetate was 5390.00 yuan/ton, an increase of 26.67 yuan/ton compared to the beginning of the month price of 5363.33 yuan/ton, with an overall increase of 0.50%. The raw material market is relatively strong, with good cost support, but downstream demand is poor, supply side inventory pressure is high, market mentality is playing games, and the price of ethyl acetate is fluctuating and consolidating.
Market analysis: This month, the ethyl acetate market has been fluctuating. At the beginning of the month, the price of raw materials increased, and the cost led to an increase in the price of ethyl acetate; The subsequent demand side performance is weak, downstream procurement follows up on demand, enterprise inventory accumulates, and the price of ethyl acetate is weakly lowered; In the second half of the month, with the continuous strengthening of raw material prices and an increase in pre holiday inquiries, the quotation of ethyl acetate manufacturers followed the rise of raw materials. However, due to the lack of improvement in demand, the overall price increase during the month was limited.
According to the Business Society Acetic Acid Commodity Market Analysis System, as of September 30th, the price was 2640.00 yuan/ton, an increase of 8.64% compared to the acetic acid price of 2430.00 yuan/ton at the beginning of the month. The price trend of acetic acid continues to rise, with strong upward momentum for ethyl acetate. Downstream buyers actively entered the market before and after the holiday, and the supply side acetic acid inventory continued to decline. The market mentality is strong, and the price of acetic acid has risen strongly.
Looking at the future, the utilization rate of ethyl acetate production capacity has increased recently, leading to significant inventory pressure on the supply side. Downstream pre holiday purchasing sentiment is average, and market transactions are limited. The strong supply and weak demand situation in the market continues, but the support for raw material prices is strong. At the same time, downstream replenishment expectations will improve after the holiday. It is expected that the ethyl acetate market will rise slightly in October, and specific attention will be paid to changes in supplier equipment and downstream follow-up.

On September 30th, the average market price in East China was 278040 yuan/ton, an increase of 2.4% compared to the previous trading day. The mainstream price range for 1 # tin ingots in the domestic spot tin market is 277500-279000 yuan/ton, with an average price of 278040 yuan/ton, an increase of 5400 yuan/ton from the previous trading day.
Shanghai tin rose sharply in night trading, with the main contract price approaching a 4% increase at one point, breaking the highest point in over 5 months. However, the subsequent increase saw a slight correction, and during today’s white trading phase, the price further declined. Eventually, the main contract closed with a 0.94% increase, closing at 275070 yuan/ton.
On the news front, Indonesian President Prabowo announced that 1000 illegal mines in Bangka Belitung province have been closed. Triggering market concerns about the supply side.
The price of Shanghai tin futures is at a high level and maintaining a consolidation trend, and the basis discount between near month contracts and far month contracts has further expanded; In the second trading session, its increase narrowed slightly. As prices continue to rise, smelters choose to hold on and wait, unwilling to ship easily, which limits market transactions to a certain extent. In terms of the spot market, the recent spot procurement situation has been relatively stable, and downstream enterprises have basically completed pre holiday stocking. With the significant increase in the price of Shanghai tin futures, market activity has significantly decreased and gradually returned to a flat state. It is understood that although there are some inquiries in the market, actual transactions are extremely rare. Overall, the demand for tin in downstream industries still needs further improvement. However, many market participants are skeptical about whether market prices can rise in sync with consumer demand after the holiday.
In terms of follow-up, the premium for October is around 100 to 200 yuan/ton, while the premium for Yunzitou is around 200 to 500 yuan/ton, and the premium for Yunxi is around 9500 to 700 yuan/ton

Last week (September 22-28, 2025), the market fluctuation of the main raw material dissolving slurry was not significant, and the performance on the cost side was average, with limited support on the cost side; The overall inventory level in the market is not high, and there is still support from the supply side. Downstream cotton yarn factories mainly consume inventory, and the overall trading atmosphere in the market is stable. The market price of viscose staple fiber continues to move steadily.
According to the Commodity Market Analysis System of Shengyi Society, last week (September 22-28, 2025), the market price of viscose staple fiber was weakly stable. As of September 28, the average market price of viscose staple fiber was 13120 yuan/ton, which was the same as the same period last week.
In terms of cost: Last week (September 22-28, 2025), there was little change in the market price of raw material dissolving pulp, with weak support and limited cost performance. As of now, the price of domestic dissolving pulp is around 6700 yuan/ton, the price of outer broad-leaved pulp is around 800 US dollars/ton, and the price of coniferous pulp is around 870 US dollars/ton. The market prices of auxiliary materials such as liquid alkali and sulfuric acid remain stable but fluctuate slightly, with average cost support.
Low inventory level
The industry supply remains stable, and the current daily operating rate in the market remains at around 75%. The inventory levels of various adhesive short fiber manufacturers are not high, and downstream yarn enterprises pick up goods according to demand. The overall inventory of the adhesive short fiber market has decreased, and the supply fluctuation in the industry is not significant. Some manufacturers have low inventory, and the support from the supply side is limited.
Downstream on-demand pickup
The operating rate of downstream cotton yarn market equipment has slightly increased, and price fluctuations are not significant. As of September 21st, the price of ring spun R30S in Jiangsu region is around 17100 yuan/ton, and the price of ring spun R40S is around 18300 yuan/ton. The market is in a traditional off-season of demand, and downstream cotton yarn market transactions are not ideal. Only a few models of vortex spun cotton yarn have slightly better export orders. Cotton mills mainly consume raw material inventory and replenish urgently needed goods, with no significant improvement in demand.
Future forecast
On the raw material side, the main material dissolution slurry market and the auxiliary material sulfuric acid market are generally stable, while the liquid alkali market may experience a narrow decline. Therefore, it is expected that the market price trend of adhesive short fiber raw materials will decline in the short term, and the cost support will be insufficient.
Supply and demand side: The operating rate of the adhesive short fiber market equipment may not fluctuate significantly, and some manufacturers have low inventory levels. Therefore, it is expected that the supply side support of the adhesive short fiber market will be strong in the short term; The demand in the terminal market has increased, with on-demand procurement being the main focus. It is expected that the driving force of the adhesive short fiber market from the demand side will be limited in the short term.
Overall, the main raw material dissolution slurry market may be weak and stagnant, with sufficient overall supply. Downstream yarn factories mainly sign orders and purchase on demand. Under the interweaving of on-site news, adhesive short fiber manufacturers may maintain their previous quotations. Therefore, Business Society analysts predict that the domestic adhesive short fiber market will remain stable with small movements in the short term, and the price is expected to be around 13000-13200 yuan/ton for acceptance.