SunSirs: The Acetic Acid Market Fluctuated Narrowly in Late December

https://www.chemnet.com   Jan 02,2025 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of December 30th, the average price of acetic acid was 2,970 RMB/ton, a decrease of 10 RMB/ton or 0.34% compared to the price of 2980 RMB/ton on December 21st.

Analysis review

In late December, the acetic acid market fluctuated, with enterprise quotations rising first and then falling. On the supply side, the utilization rate of domestic production capacity has decreased, and factories in East China have reduced load and short-term shutdowns, supporting the strong rise in acetic acid prices. However, in the later stage, due to the end of long-term contracts, some manufacturers' shipments weakened, and market prices were adjusted downward.

The upstream methanol market fluctuated at a high level. From December 21st to 30th, the average domestic market price increased from 2,675.83 RMB/ton to 2,745.83 RMB/ton, with an overall increase of 2.61%. In late December, some areas in China experienced rainy and snowy weather, leading to an increase in shipping costs and supporting the exploration of methanol prices. At the same time, due to the expected reduction in imported supply and the expected shutdown of the Southwest Gas Head Methanol Plant, the port methanol inventory has entered the destocking channel, and the market's bullish sentiment was strong, driving the domestic methanol market price to rise slightly.

The downstream acetic anhydride market saw a narrow rise, with the average ex factory price of acetic anhydride on December 30th at 4,995.00 RMB/ton, an increase of 0.25% compared to the price of 4,982.50 RMB/ton on December 21st. The upstream acetic acid market was in a stalemate, with limited cost of acetic anhydride. Downstream demand was the main factor, and the market transaction atmosphere was still acceptable. The supply and demand in the market were relatively balanced, and the price of acetic anhydride was stabilizing.

Market outlook

An acetic acid analyst from SunSirs believes that there was temporarily little sales pressure on supply side manufacturers, with some companies experiencing a decrease in inventory and a slight increase in market prices; Downstream investors were adopting a wait-and-see attitude, and their enthusiasm for entering the market has increased. The trading atmosphere in the market has improved, and it is expected that the short-term acetic acid market may be strong and rise. It need pay attention to the follow-up situation of downstream investors in the future.

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