SunSirs: Recently, the Acetic Acid Market Had Been Weakly Declining

https://www.chemnet.com   Jun 27,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid had been continuously decreasing recently (6.17-6.26). On June 26th, the average market price of acetic acid was 3,180 RMB/ton, a decrease of 170 RMB/ton compared to the price of 3,350 RMB/ton on June 17th, with an overall decrease of 5.07%.

Analysis review

Recently, the acetic acid market had been weak and declining. The acetic acid maintenance equipment in the market had recovered, and the mentality of manufacturers had weakened. Last week, the quotation of acetic acid factories was continuously lowered, while the enthusiasm for downstream entry into the market was not high. Market trading was limited, and the atmosphere on the market was bearish. The acetic acid market maintained a weak operation. With the increase of acetic acid supply, the intention of manufacturers to discharge inventory was obvious, and the acetic acid quotation once again fell.

The upstream raw material methanol market fluctuated in a range. On June 26th, the average price in the domestic market was 2,520 RMB/ton, which was the same as the price of 2,520 RMB/ton on June 17th. The methanol market had sufficient supply, but downstream purchasing sentiment was weak, and entered the market on demand, the demand support was insufficient. Methanol prices were weakly consolidating.

The downstream acetic anhydride market was operating weakly. On June 26th, the ex factory price of acetic anhydride was 5,462.50 RMB/ton, a decrease of 1.58% compared to the price of 5,550 RMB/ton on June 17th. The upstream acetic acid market was weak and downward, with insufficient cost support for acetic anhydride. At the same time, the acetic anhydride market had sufficient supply, downstream purchased on demand, and limited on exchange trading. The upstream market was driving the weak consolidation of the acetic anhydride market.

Market outlook

According to the acetic acid analyst from SunSirs, as of June 26th, the main acetic acid factories on the market had been operating normally, and the inventory of enterprises had remained low. However, downstream demand was weak, and many purchases were made according to demand. Market trading was limited, and there was a game of supply and demand on the market. It is expected that in the short term, acetic acid market will consolidate on a wait-and-see basis, and prices may operate steadily. In the future, attention should be paid to downstream follow-up.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

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