SunSirs: Acetic Acid Prices Continued to Decline in June

https://www.chemnet.com   Jul 04,2023 SunSirs

　　According to the Commodity Market Analysis System of SunSirs, the price trend of acetic acid in June first rose and then fell. At the beginning of the month, the average price of acetic acid was 3,233.33 RMB/ton, and at the end of the month, the price was 3,250.00 RMB/ton. The overall increase during the month was 0.52%, and the price decreased by 39.02% year-on-year.

　　Upstream caustic soda

　　In early June, the price trend of acetic acid continued to rise, with no pressure on enterprise inventory, stable follow-up of downstream demand, smooth shipment of manufacturers, and a continuous increase in the focus of acetic acid transactions; In mid of June, the market trading performance was light, with downstream buyers mainly focusing on demand, while acetic acid manufacturers remained stable in their shipments, and the market situation remained stable on the sidelines; In lat June, after the price of acetic acid was lowered, it operated smoothly. The enthusiasm for downstream procurement was average, and market transactions were weak. The acetic acid market remained stable and weak.

　　The raw material methanol market had weakened and decreased, with an average domestic market price of 2,160.00 RMB/ton at the end of the month, a decrease of 10.87% compared to the price of 2,423.33 RMB/ton on June 1. The price of raw coal had declined, the cost side lacked positive support, and the social inventory of methanol in the supply side continued to accumulate. Coupled with the influx of imported goods, market confidence was insufficient, downstream purchasing and follow-up were insufficient, supply was strong and demand was weak, and the price of methanol had fallen again and again.

　　The downstream acetic anhydride market fluctuated and declined in June, with a price of 5,387.50 RMB/ton at the end of the month, a decrease of 1.15% compared to the price of 5,450.00 RMB/ton at the beginning of the month. The price of raw material acetic acid first rose and then fell, and the overall price did not change much. The cost support for acetic anhydride was limited, the production of acetic anhydride was low, the market supply was insufficient, downstream demand was average, and the trading atmosphere on the market was light. Enterprises followed the market, and the acetic anhydride market was consolidated.

　　Market outlook

　　Analysts from SunSirs believe that acetic acid companies had no inventory pressure, manufacturers were actively shipping, and downstream demand side mentality wais wait-and-see, continuing to follow up just in needed. The market lacked effective benefits, and the rise of acetic acid was weak. Under the supply and demand game, it is expected that the acetic acid market will consolidate and operate in the future, and specific attention will be paid to changes in supplier’s equipment.

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