SunSirs: The Acetic Acid Market Was Weak in September

https://www.chemnet.com   Oct 08,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid in September first rose and then fell. As of September 29th, the price was 3,250 RMB/ton, a decrease of 100 RMB/ton compared to the price of 3,350 RMB/ton at the beginning of the month, a decrease of 2.99% during the month.

Analysis review

The acetic acid market remained weak and consolidated in September. At the beginning of the month, the price of acetic acid continued to decline, following the trend of the end of August. On the supply side, the utilization rate of acetic acid production capacity was high, and factory inventory continued to accumulate. However, downstream inquiries were sluggish, and market trading was weak, resulting in a weak downward trend in the acetic acid market; In mid September, downstream restocking was average before and after the Mid Autumn Festival holiday, and the market trading atmosphere was relatively weak. Acetic acid prices remained stable; In late September, there was some improvement in shipment transactions in Shandong region, with a slight increase in acetic acid prices. However, the overall market supply was high, and downstream consumption inventory was limited. Acetic acid remained stable and watchful in the later stage.

The methanol market on the raw material side was fluctuating and consolidating. As of September 29th, the average price in the domestic market was 2,518.33 RMB/ton, an overall increase of 1.55% compared to the beginning of the month price of 2,480.0 RMB/ton. In early September, the methanol market continued to decline, mainly due to the continuous expansion of the supply side and insufficient follow-up of downstream demand, resulting in a continued decline in the methanol market; In mid to late September, the demand for methanol was relatively good, with low arrival of foreign ships and destocking of port inventory. With the support of a macro positive trend, the methanol market saw a narrow upward trend.

Market outlook

According to analysts from SunSirs, the price of acetic acid remained stable, and downstream mainly purchased on demand. The market trading atmosphere was relatively weak, and the supply side of acetic acid was stable with a lack of positive news. On the demand side, downstream wait-and-see mentality was dominant, and market transactions were limited. The supply and demand in the market were deadlocked, and it is expected that acetic acid prices will fluctuate weakly in the future. Specific attention should be paid to downstream replenishment in the future.

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