SunSirs: The Acetic Acid Market in June First Rose and Then Fell

https://www.chemnet.com   Jul 03,2024 SunSirs

Price trend

According to the commodity market analysis system of SunSirs, the price trend of acetic acid in June first rose and then fell. As of June 30th, the price was 3,080 RMB/ton, which was a decrease of 70 RMB/ton compared to the beginning of the month's acetic acid price of 3,150 RMB/ton, with an overall decrease of 2.22%.

Analysis review

The acetic acid market rose first and then fell in June. In the first half of the month, the main factories on site experienced frequent equipment failures, resulting in a reduction in market supply. The manufacturers had a positive attitude, and the price of acetic acid remained strong and rising; With the restoration of maintenance equipment, the mentality of manufacturers had weakened, coupled with a wait-and-see attitude of downstream and traders, the market trading atmosphere was weaker. In the second half of the month, acetic acid manufacturers voluntarily lowered their prices. Later, as the supply of acetic acid in the market increased, manufacturers showed a clear intention to reduce inventory, and acetic acid prices continued to decline.

The methanol market on the raw material side was operating weakly. As of June 30th, the average price in the domestic market was 2,554.17 RMB/ton, a decrease of 7.51% overall compared to the beginning price of 2,761.67 RMB/ton. 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 the market trading was poor. The methanol prices was mainly weakly consolidated

Market outlook

Analysts from SunSirs believe that as of June 30th, many acetic acid companies were operating smoothly, with sufficient market supply of goods. Enterprises were actively shipping, while downstream buyers were not enthusiastic. The market mentality was mainly wait-and-see, with limited trading on the market. It is expected that the acetic acid market will be weakly consolidated in the future, with narrow price fluctuations. Specific attention will be paid to downstream restocking in the future.

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