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SunSirs: On Site Supply Was Tight, Acetic Acid Market Was Strong and Upward (April 19-24)

April 25 2021 13:26:17     SunSirs (John)

Price trend

According to the bulk data monitoring of SunSirs, the acetic acid market rose strongly this week. At the weekend, the price of acetic acid was 7,325.00 RMB/ton, which was 2.59% higher than the average ex factory price of 7,140.00 RMB/ton at the beginning of the week and up 19.24% month-on-month.

Analysis review

This week, the domestic acetic acid level was strong, the acetic acid plant of Nanjing Yangzi Petrochemical Company returned to normal, the market supply of acetic acid increased slightly, but the restart of Henan Shunda acetic acid plant had not been successful, and the overall supply of goods in the market was still tight. The downstream demand was strong. In the face of high-level acetic acid, traders mostly purchased on-demand, with good enthusiasm. The short-term market supply gap is difficult to make up, and the price of acetic acid is running strong.

The domestic methanol market was rising at a high level, the inventory of Northwest enterprises was not high, some olefins were imported, the inventory of ports was reduced, the futures market was good, the domestic spot price was rising, and the Shandong area was about 2,510 RMB/ton.

On the downstream side, the market of vinyl acetate and acetate was mainly on the wait-and-see basis, the manufacturers' devices were running normally, the market supply was strong, the terminal purchased on demand, the quotations of mainstream manufacturers were relatively high, and the future market was sorted out.

Market outlook

According to acetic acid analysts of SunSirs, the current domestic acetic acid market quotation is high, the short-term market supply is tight, and the restart of Henan Shunda plant has not been successful, so it is difficult to make up for the supply gap in a short time. It is expected that the acetic acid market will continue to rise at a high level in the future.

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