SunSirs: The Acetic Acid Market in July Fluctuated to Be Stronger

https://www.chemnet.com   Aug 05,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid fluctuated and rose in July, with a price of 3,325 RMB/ton as of July 31. Compared with the acetic acid price of 3,080 RMB/ton at the beginning of the month, it increased by 245 RMB/ton during the month, with an overall increase of 7.95%.

Analysis review

The acetic acid market fluctuated to be stronger in July. At the beginning of the month, the manufacturer's equipment was operating normally, the company's supply of goods was sufficient, downstream demand was sluggish, the market trading atmosphere was average, the company's inventory accumulated, and the price of acetic acid continued to decline in June; In the middle of the month, the bidding prices in the northwest region continued to rise, and there was a strong intention to increase prices in the market. Downstream buyers actively entered the market, and the market trading atmosphere improved. Acetic acid prices in many places rose; In the late of the month, the recovery of demand side procurement was weak, and some manufacturers had poor shipments, resulting in a significant decrease in acetic acid prices. At the end of the month, the bidding prices of the main factories in the northwest remained strong and rose, while other regions were optimistic, leading to a rebound in acetic acid market prices.

The methyl alcohol market on the raw material side was weak and volatile. As of July 31st, the average price in the domestic market was 2,510.00 RMB/ton, a decrease of 0.89% compared to the price of 2,532.50 RMB/ton at the beginning of the month. During the month, the overall supply of methyl alcohol market was sufficient, and downstream demand remained weak. Except for some methyl alcohol plant maintenance and downstream stage procurement, which boosted the market to a certain extent, the overall performance of methyl alcohol prices was weak, and market trading was limited. The methanol market was observing and consolidating its operation.

Market outlook

SunSirs’ analysts believe that the rebound in acetic acid prices was due to a significant increase in equipment maintenance planned for August, resulting in a decrease in market supply; On the demand side, downstream customers followed up on demand for goods, and the market mentality was mainly wait-and-see. Considering the impact of buying up rather than buying down sentiment, it is expected that the acetic acid market price will be stronger in August, and specific attention will be paid to downstream replenishment in the future.

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