SunSirs: The Price Trend of Acetic Acid Continued to Decline This Week

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

Market trend

According to the Commodity Market Analysis System of SunSirs, the price trend of acetic acid had continued to decline this week. On October 31st, the average price of acetic acid was 2,850 RMB/ton, and on October 28th, it was 2,950 RMB/ton. The price decreased by 100 RMB/ton during the week, a decrease of 3.39%.

Analysis review

This week, the acetic acid market continued to decline, and enterprise quotations continued to decline. On the supply side, there was little change in the acetic acid plant on site, and the market supply was sufficient. The enterprise inventory had accumulated, and the shipping sentiment was gradually increasing; On the downstream side, the enthusiasm for entering the market to acquire goods was not high, with a focus on a small amount of demand. Market trading was average, and companies continuously lower their quotations to promote shipments.

The upstream methanol market first fell and then rose. From October 28th to 31st, the average price in the domestic market decreased from 2,490 RMB/ton to 2,485 RMB/ton, with an overall decline of 0.20%. At the beginning of the week, downstream demand was poor, market buying momentum was weak, and coupled with the downward trend in the futures market, methanol spot prices fell synchronously; Afterwards, the buying of gas improved, boosting the methanol market. In addition, with the recent increase in shipping costs, methanol prices had rebounded and risen accordingly.

The downstream acetic anhydride market was operating weakly. On October 31st, the average ex factory price of acetic anhydride was 5,115.00 RMB/ton, a decrease of 0.15% compared to the price of 5,122.50 RMB/ton on October 28th. The upstream acetic acid market continued to decline, and the cost of acetic anhydride was bearish. Downstream market entry followed up as needed, and actual market transactions were limited. Industry players were adopting a wait-and-see attitude, and acetic anhydride prices were consolidating downward.

Market outlook

The acetic acid analyst from SunSirs believes that the acetic acid plant was operating normally, the market supply was stable, and the company's sales were under pressure; Downstream and trading demand was limited, the market trading atmosphere was average, and there was strong supply and weak demand in the market. It is expected that the short-term acetic acid market will continue to operate weakly, and attention will be paid to downstream follow-up in the future.

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