SunSirs: Acetic Acid Prices First Fell and Then Rose in Late July

https://www.chemnet.com   Aug 02,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid has been declining and then rising recently. As of July 31, the average market price of acetic acid was 3,325 RMB/ton, a decrease of 25 RMB/ton compared to the price of 3,350 RMB/ton on July 21, with an overall decline of 0.25%.

Analysis review

In late July, the price of acetic acid first fell and then rose. In the early stage, due to the gradual recovery of supply side equipment, the market supply increased. At the same time, downstream demand performance was average, and industry players were bearish, resulting in a downward trend in acetic acid prices. Afterwards, the bidding prices of major factories in the northwest increased significantly, and the atmosphere in the market was bullish. Downstream procurement enthusiasm increased, and enterprise shipments were smooth. Acetic acid prices rebounded and rose.

The upstream methanol market fluctuated within a range in late July. As of July 31st, the average price in the domestic market was 2,510 RMB/ton, an overall increase of 0.4% compared to the price of 2,500 RMB/ton on July 21st. Domestic methanol had risen, fallen back, and rebounded again, mainly due to weak overall downstream demand. Traders had sufficient supply of goods, and the demand side had shown a bearish trend. However, the maintenance of some domestic methanol plants and the periodic purchase of goods by traders and downstream had boosted the market to some extent, and the market showed a weak rebound trend at the end of the month.

The downstream acetic anhydride market was weak and volatile. On July 31st, the average ex factory price of acetic anhydride was 5,552.50 RMB/ton, a decrease of 0.27% compared to the price of 5,567.50 RMB/ton on July 21st. The upstream acetic acid market was weak and consolidating, with insufficient cost support for acetic anhydride. Downstream acetic anhydride was following up as needed, and the trading atmosphere in the market was weak. The upstream market was driving the narrow range fluctuation of acetic anhydride prices.

Market outlook

The acetic acid analyst from SunSirs believes that the domestic acetic acid market was temporarily rebounding and rising, with a positive atmosphere in the market. Downstream inquiries were active, and market trading was smooth. In addition, the prices of major factories in the northwest were firm. It is expected that the acetic acid market will be consolidating to be stronger in the short term, and downstream follow-up will be closely monitored in the future.

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

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