SunSirs: The Acetic Acid Market Had Been Running Steadily This Week

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

Price trend

According to the Commodity Market Analysis System of SunSirs, the price trend of acetic acid remained stable this week. As of September 27th, the average market price of acetic acid was 3,250 ,, which was the same as the beginning of the week price of 3250 RMB/ton and a decrease of 2.99% compared to the beginning of the month.

Analysis review

This week, the acetic acid market had been running steadily, and enterprise quotations had remained stable. On the supply side, the acetic acid plant was running smoothly, the market supply was steadily increasing, and enterprises were actively shipping; On the demand side, downstream pre holiday stocking sentiment was average, with a focus on restocking as needed. There was a supply-demand stalemate in the market, and industry players were cautious. Acetic acid prices were stable and operating on a wait-and-see basis.

The upstream raw material methanol market had risen narrowly. As of September 27th, the average price in the domestic market was 2,478 RMB/ton, an overall increase of 4.13% compared to the early week price of 2,380 RMB/ton. Supported by a macro positive outlook, the domestic methanol market stopped falling and rose. At the same time, the arrival volume of foreign ships was low, port inventory was depleted, and port methanol prices weare also relatively strong. Methanol prices were running strongly before the holiday.

The downstream acetic anhydride market was operating steadily. On September 27th, the average ex factory price of acetic anhydride was 5,472.50 RMB/ton, which was the same as the beginning of the week price of 5,472.50 RMB/ton. The upstream acetic acid market was mainly stable, with limited cost support for acetic anhydride. Downstream acetic anhydride followed suit as needed, and the market trading atmosphere was still acceptable. The supply and demand in the market were relatively balanced, and the acetic anhydride market remained stable during the week.

Market outlook

The acetic acid analyst from SunSirs believes that on the supply side, the acetic acid plant was operating normally, the market supply was stable, and there was temporarily no positive news released; The demand for pre holiday stocking by downstream and trading companies was generally low, and the market trading atmosphere was weak, with a stalemate in the market atmosphere. It is expected that the short-term acetic acid market will continue to be stable, and with limited holiday shipments, the price of acetic acid may weaken and consolidate after the holiday. The downstream market should pay attention to the follow-up situation in the future.

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