SunSirs: The Acetic Acid Market Was Weak and Declining This Week

https://www.chemnet.com   Jul 30,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid had declined this week. As of July 28th, the average market price of acetic acid was 3,250 RMB/ton, a decrease of 100 RMB/ton compared to the beginning of the week price of 3,350 RMB/ton, with an overall decline of 2.99%.

Analysis review

This week, the price of acetic acid had remained stable with a moderate decrease. Downstream customers mainly consumed inventory in the market, with average purchasing enthusiasm and limited support from the demand side. The supply side market equipment had resumed its previous load, and the supply of acetic acid had increased. With the accumulation of inventory in some enterprises, the intention to discharge inventory had gradually become apparent, and the price of acetic acid had fallen.

The upstream raw material methanol market was strong and rising. As of July 28th, the average price in the domestic market was 2,525 RMB/ton, an increase of 1.17% compared to the price of 2,495 RMB/ton on July 22nd. The downstream demand for methanol continued to be weak, but there was good support from the supply side. The maintenance of on-site equipment, traders, and downstream purchases had provided some boost to the market, and the market had shown a weak rebound trend, with methanol spot prices rising narrowly.

The downstream acetic anhydride market was weak and declining. On July 28th, the average ex factory price of acetic anhydride was 5,527.50 RMB/ton, a decrease of 0.72% compared to the price of 5,567.50 RMB/ton on July 22nd. The upstream acetic acid market was weak and down, and the cost support for acetic anhydride was weakened. The downstream of acetic anhydride followed suit according to demand, and the trading atmosphere in the market was weak. Driven by the upstream market, the price of acetic anhydride was also down.

Market outlook

The acetic acid analyst from SunSirs believes that the utilization rate of domestic acetic acid production capacity had improved, the market supply increased during the week, the manufacturers' mentality was not good, the quotations had been lowered, the downstream market entry enthusiasm was not high, and the on-site trading was limited. It is expected that the acetic acid market will be consolidated to be weaker in the short term, and attention will be paid to downstream follow-up in the future.

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

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