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SunSirs: Supply and Demand Are Tightly Balanced, and the Domestic Acetic Acid Market Is Running Stably

September 09 2020 14:13:21     SunSirs (John)

Price trend

According to the monitoring of the bulk data of SunSirs, affected by the relationship between supply and demand, the domestic acetic acid market has been operating strongly recently. As of September 8, the average price of acetic acid in East China was around 2,490 RMB/ton, a 4.18% drop from 2,390 RMB/ton at the beginning of the month. At present, the price of acetic acid in Shandong is 2,450-2,550 RMB/ton, the price of acetic acid in Jiangsu is 2,450-2,550 RMB/ton, the price of acetic acid in Zhejiang is 2,550-2,650 RMB/ton, the price of acetic acid in Henan is about 2,350-2,400 RMB/ton, and the price of acetic acid in Hebei is 2,450-2,500 RMB/ton, and the price of acetic acid in Northwest China is around 2,050 RMB/ton.

Analysis review   

At present, the overall start of the domestic acetic acid market has declined slightly, and the overall inventory in the industry is low. In addition, it is currently in the traditional peak season of the acetic acid market. The downstream market and middlemen start to stock up before the holiday. Therefore, the price of acetic acid continues to rise. Companies take advantage of the trend to push up, and there is a strong speculation in the industry.

In the upstream market, due to the influence of the futures market and downstream demand, favorable factors still exist in the short term. Traders have a better bullish attitude, currently around 1,725 RMB/ton. On the downstream side, the downstream acetic acid industries such as vinyl acetate and acetate are in a wait-and-see posture after rising, and the cost support is good. The low demand for downstream market purchases has led to obvious inventory pressures in some enterprises, and that has insufficient support for the market outlook.

The international acetic acid market has been operating steadily recently. The Asian acetic acid market has been affected by the decline in supply, and the price has risen slightly. The current price is around 285-320 US dollars/ton; the supply and demand in the European market is stable, and the price is currently around 540 Euro/ton; the North American market is driven by the upward price of raw material methanol, which is currently around 450 US dollars /ton.

Market outlook

According to the acetic acid analysts of SunSirs, the current domestic acetic acid company inventory is low, coupled with the strong market speculation, corporate offers continue to rise, as the National Day holiday approaches, corporate stocks increase, and the acetic acid market is expected to operate stably in a short time.

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