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SunSirs: Domestic Acetic Acid Market Continued to Rise Due to Tight Supply,

October 23 2020 07:57:12     SunSirs (John)

According to the monitoring of the bulk data of SunSirs, the domestic acetic acid market continued to rise due to the relationship between supply and demand. As of October 21, the average price of acetic acid in East China was about 2,606 RMB/ton, an increase of 2.09% from the beginning of the month and an increase of 2.09% from the same period last month. As of October 21, the price of acetic acid in Shandong area was 2,550-,2650 RMB/ton, the price of acetic acid in Jiangsu area was 2,550-2,650 RMB/ton, the price of acetic acid in Zhejiang area was 2,700-2,800 RMB/ton, and the price of acetic acid in Henan area was about 2,380-2,400 RMB/ton. , The price of acetic acid in Hebei was 2,520-2,570 RMB/ton, and the price of acetic acid in Northwest China was about 2,050 RMB/ton.

At present, the domestic acetic acid market continues to rise slightly. The spot supply in the market is tight, corporate inventories are low, domestic demand and exports in the downstream market are both good, and the supply and demand in the industry are tightly balanced. As the price of acetic acid rises to a high level, some downstream and traders are gradually buying rationally, and the price of acetic acid is stable and firm.

In the upstream market, the methanol market was affected by favorable factors such as overhaul of overseas installations and continued port depots, and the market price rose slightly. At present, most traders sell goods at rallies, and it is expected that the domestic methanol market will fluctuate mainly at a high level in the short term, currently around 1,930 RMB/ton. On the downstream side, the demand for acetic acid in the downstream market such as vinyl acetate and acetate has improved. In addition, the cost support is strong and the price is rising. In the short term, favorable factors still exist, and it is expected to rise steadily.

Recently, the international acetic acid market demand has improved, and the price of acetic acid in various regions has continued to rise. The current Asian acetic acid market is about 330-380 US dollars/ton; the European market is about 560 euros/ton; the North American market is currently about 570 US dollars/ton.

Market outlook

The acetic acid analyst of the Business Society believes that the supply side of the domestic acetic acid market will not be greatly improved in a short time. The market supply is limited. Although the overall inventory of the industry is low, the inventory of enterprises in other regions except East China still has a small accumulation. In a short period of time, the acetic acid market was stable and strong, with limited growth.

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