SunSirs: Demand Continued to Be Weak, and the Acetic Acid Market Was Weak
http://www.chemnet.com Aug 01,2022 SunSirs
According to the bulk data monitoring of SunSirs, as of July 29, the average price of acetic acid in East China was 3,512.50 RMB/ton, a decrease of 2.77% compared with the price of 3,612.50 RMB/ton at the end of last week, a decrease of 14.85% compared with the beginning of the month, and the market continued to be weak during the week.
The domestic acetic acid market continued to run weakly, the downstream demand was general, the market purchased and follow-up were insufficient, and a small amount of the purchases were mainly based on rigid demand. In terms of supply, the market supply is relatively sufficient. The holders maintained the pace of shipments, and the quotations were stable and small. The market supply and demand was in a game. The industry's mentality was mainly wait-and-see. Under the mood of buying up and not buying down, the acetic acid market was sorting out.
The price trend of downstream acetic anhydride was running lightly and steadily. As of the 29th, the ex-factory price of acetic anhydride was 6,475 RMB/ton, which was stable compared with the price on July 23. The upstream raw material market was weak, the price of acetic acid was lowered, the support of acetic anhydride was weakened, the downstream demand was general, and the acetic anhydride market was running on the sidelines.The downstream EA market was running weakly. As of the 29th, the average ex-factory price of EA in East China was 7,333 RMB/ton, down 1.77% from the July 23 price of 7,466 RMB/ton. The upstream acetic acid market fell, and the cost was bearish. Due to the sluggish downstream demand, the market focus moved down, and the EA market was weak.
The acetic acid analyst of SunSirs believes that the domestic acetic acid market is relatively abundant, the downstream demand continues to be weak, the trading atmosphere on the market is light, and the enthusiasm of the downstream to enter the market is general. As the price of acetic acid has dropped to the vicinity of the cost line, the industry's mentality is temporarily stable and wait-and-see, the decline of acetic acid has slowed down, and the acetic acid market will consolidate in the short term, and pay attention to the downstream follow-up situation.