SunSirs: Acetic Acid Market Continued to Decline in November

https://www.chemnet.com   Nov 12,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of November 11th, the average price of acetic acid was 2,770 RMB/ton, a decrease of 80 RMB/ton or 2.81% compared to the price of 2,850 RMB/ton on November 1st.

Analysis review

The acetic acid market continued to decline in November, with companies continuously lowering their quotes. On the supply side, there was little change in the acetic acid plant on site, and the inventory of the enterprise continued to accumulate. The mentality of the operators was weak, and the shipping sentiment was strong; On the downstream side, the terminal market trading was weak, the downstream market was weak, the demand performance was insufficient, the market trading was weak, and there were significant bearish factors in the market, resulting in a weak downward trend in acetic acid prices.

The upstream methanol market fluctuated within a certain range. From November 1st to 11th, the average price in the domestic market decreased from 2,475.00 RMB/ton to 2,464.17 RMB/ton, with an overall decline of 0.44%. Downstream demand continued to be sluggish, market buying power was weak, and the futures market lacked sufficient boost. The momentum for methanol spot prices to rise was weak, and at the same time, the recent increase in shipping costs had led to a weak operation of methanol prices.

The downstream acetic anhydride market was weak and declining. On November 11th, the average ex factory price of acetic anhydride was 5,052.50 RMB/ton, a decrease of 0.98% compared to the price of 5,102.50 RMB/ton on November 1st. The upstream acetic acid market continued to decline, the cost of acetic anhydride was bearish, downstream entry enthusiasm was not high, market orders were limited, and the mentality of operators was poor, resulting in a decrease in acetic anhydride prices.

Market outlook

The acetic acid analyst from SunSirs believes that the acetic acid plant was operating normally, the market supply was sufficient, and the pressure on enterprises to ship was relatively high; Downstream and traders had weak purchasing power, and the market trading atmosphere was relatively weak. The supply on the market was strong and demand was weak. It is expected that the acetic acid market will remain weak and stable in the short term, and attention will be paid to downstream follow-up in the future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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