SunSirs: The Price Trend of Acetic Acid Continued to Decline This Week (October 19-25)

https://www.chemnet.com   Oct 29,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid had continued to decline this week. On October 25th, the average price of acetic acid was 2,950 RMB/ton, and on October 19th, it was 3,050 RMB/ton. The price decreased by 100 RMB/ton during the week, a decrease of 3.28%.

Analysis review

This week, the acetic acid market had been weakly declining, and enterprise quotations continued to fall. On the supply side, the acetic acid plant on site was operating normally, the market supply was sufficient, the enterprise inventory pressure was high, and the shipping sentiment was strong; On the downstream side, the entry into the market for goods was average, with a focus on small quantities as needed. The market trading was weak, and the atmosphere in the market was bearish, resulting in a continuous decline in acetic acid prices.

The upstream methanol market first fell and then rose. From October 19th to 25th, the average price in the domestic market increased from 2439.17 RMB/ton to 2445.83 RMB/ton, with an overall increase of 0.27%. At the beginning of the week, methanol continued to decline in the previous week's market trend. After the price fell to a low level, downstream inquiries and purchases increased, boosting the methanol market. In addition, with the recent increase in shipping costs, methanol prices rebounded and rose accordingly.

The downstream acetic anhydride market was weak and declining. On October 25th, the average ex factory price of acetic anhydride was 5,122.50 RMB/ton, a decrease of 2.06% compared to the price of 5,230.00 RMB/ton on October 19th. The upstream acetic acid market was weak and declining, the cost support for acetic anhydride was weak, the enthusiasm for downstream entry into the market for acetic anhydride was not high, the actual market orders were limited, and the mentality of industry players was bearish, resulting in a decline in acetic anhydride prices.

Market outlook

The acetic acid analyst from SunSirs believes that the acetic acid plant was operating normally, the market supply of goods was stable, and there was inventory pressure on the enterprise; Downstream and traders were following up as needed, and the market trading atmosphere was relatively weak, with strong supply and weak demand on the market. It is expected that the short-term acetic acid market will continue to consolidate to be weaker, and attention will be paid to downstream follow-up in the future.

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