SunSirs: The Price of Acetic Acid Continued to Decline This Week (June 24-28)

https://www.chemnet.com   Jul 01,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid had significantly declined this week. As of June 28th, the average market price of acetic acid was 3,080 RMB/ton, a decrease of 150 RMB/ton compared to the price of 3,230 RMB/ton on June 24th, an overall decrease of 4.64%.

Analysis review

This week, the price of acetic acid continued to decline, mainly due to strong supply and weak demand, and the bearish mentality of manufacturers, resulted in a continuous decline in acetic acid prices. On the supply side, with the restoration of maintenance equipment and an increase in market supply, enterprises had a clear intention to discharge inventory, and the acetic acid market was operating weakly; On the demand side, downstream performance continued to be sluggish, and the market trading atmosphere was light. On exchange transactions were flat, and the market atmosphere was bearish. Under the supply-demand game, the price of acetic acid had declined during the week.

The upstream raw material methanol market was operating with a stronger trend. As of June 28th, the average price in the domestic market was 2,554.17 RMB/ton, an increase of 2.78% compared to the price of 2,485.00 RMB/ton on June 24th. The overall supply of methanol in the market was sufficient, with downstream on-demand procurement being the main focus. The receiving sentiment was weak, and market trading was poor. The futures market closed higher this week, driving up the consolidation of methanol spot prices.

The downstream acetic anhydride market was weak and declining. On June 28th, the factory price of acetic anhydride was 5,447.50 RMB/ton, a decrease of 0.55% compared to the price of 5,477.50 RMB/ton on June 24th. The upstream acetic acid market was weak and declining, with a bearish cost outlook for acetic anhydride. At the same time, the acetic anhydride market had sufficient supply, downstream purchased on demand, and exchange trading was limited. The upstream market had driven the consolidation and downward trend of acetic anhydride prices.

Market outlook

According to the acetic acid analyst from SunSirs, the main acetic acid factories on the market are temporarily operating normally, with high capacity utilization, sufficient market supply, and limited downstream demand. Followed up on demand when entering the market, and there was a clear trend of oversupply on the market. At the same time, the confidence of suppliers was insufficient, and the acetic acid quotation continued to decline. It is expected that the short-term acetic acid market will continue to be weaker and the price may fluctuate slightly. In the future, pay attention to downstream follow-up.

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

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