SunSirs: In early April, the acetic acid market was weak and declining

https://www.chemnet.com   Apr 12,2023 SunSirs

　　According to the Commodity Market Analysis System of SunSirs, as of April 10th, the average price of acetic acid in East China was 3,216.67 RMB/ton, a decrease of 2.03% compared to the price of 3,283.33 RMB/ton on April 1st, and a decrease of 4.16% compared to the previous month.

　　Analysis review

　　The domestic acetic acid market was in a weak state of consolidation and operation, demand on the market was weak and sales of acetic acid were poor. The manufacturer's quotation was lowered to stimulate shipments, market transactions were light and downstream support was insufficient. The market lacked positive factors, and under the sentiment of buying up or not buying down, the price of acetic acid continued to decline.

　　The upstream raw material methanol market continued to decline. As of April 10th, the average price in the domestic market was 2,401.67 RMB/ton, which was an overall decrease of 6.25% compared to the price of 2,561.67 RMB/ton on April 1st. The raw material coal market was sluggish, with a lack of positive cost support, coupled with weak spot gas buying performance, methanol market was weak and declined.

　　The downstream acetic anhydride market was undergoing consolidation and operation. As of April 10th, the factory price of acetic anhydride was 5,462.50 RMB/ton, which was the same as the price of 5,462.50 RMB/ton on April 1st. Upstream acetic acid prices fell, and the cost support for acetic anhydride decreased. Yankuang's acetic anhydride equipment was undergoing maintenance, and the supply of acetic anhydride had decreased. Downstream followed up as needed, market negotiations were average, and the acetic anhydride market was stabilizing and consolidating.

　　Market outlook

　　SunSirs acetic acid analysts believe that the acetic acid market had sufficient supply, the utilization rate of downstream production capacity was low, demand was weak, on-site pickup was not good, and the market lacked positive support. Under the situation of oversupply, it is expected that the acetic acid market will consolidate to be weaker in the short term, and specific attention should be paid to downstream follow-up.

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