SunSirs: The Acetic Acid Market Has Been Weak and Declining in the Recent Times

https://www.chemnet.com   Aug 28,2024 SunSirs

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According to the Commodity Market Analysis System of SunSirs, the price trend of acetic acid had continued to decline recently (8.21-8.27). As of August 27th, the average market price of acetic acid was 3,550 RMB/ton, a decrease of 125 RMB/ton or 3.40% compared to the price of 3,675 RMB/ton on August 21st.

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Recently, the acetic acid market has been weak and declining, with enterprise quotations continuously falling. On the supply side, the maintenance of the acetic acid plant was centralized, and the manufacturer's inventory was not high, so the main focus was on maintaining shipments; On the demand side, downstream consumers were resistant to high priced goods, and their enthusiasm for entering the market for purchasing was weak, resulting in poor market trading. However, traders were eager to settle for safety, and the focus of transactions had shifted downwards. The weak downstream demand combined with the mentality of buying up and not buying down had led to a significant decline in the price of acetic acid in the market.

The upstream raw material methanol market fluctuated upwards. As of August 27th, the average price in the domestic market was 2,500.00 RMB/ton, an increase of 1.25% compared to the price of 2,469.17 RMB/ton on August 21st. Part of the methanol plants had been shut down unexpectedly, resulting in a narrow reduction in domestic methanol production. In addition, the large-scale olefin extraction in the northwest had led to an increase in the domestic methanol market, but the traditional downstream market had not shown significant improvement, and the overall increase in methanol production was not significant.

The downstream acetic anhydride market was operating weakly. On August 27th, the average ex factory price of acetic anhydride was 5,615 RMB/ton, which was 75 RMB/ton lower than the price of 5,690 RMB/ton on August 21st. The upstream acetic acid market was weak and declining, and the cost support for acetic anhydride was weakened. Downstream acetic anhydride was following suit according to demand, and the market trading atmosphere was average. Acetic anhydride prices were consolidating and declining.

Market outlook

The acetic acid analyst from SunSirs believes that the supplier's acetic acid plant had undergone extensive maintenance, and the manufacturer's inventory was not under pressure. However, downstream demand was weak, market trading was poor, and the focus of traders continued to shift downwards. The market atmosphere was bearish, and it is expected that the acetic acid market will weaken and consolidate in the short term. It needs to pay attention 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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