SunSirs: Market Supply Increased, Acetic Acid Market Was Weak and Down
May 21 2021 14:30:04 SunSirs (John)
Price trend
According to the monitoring of the bulk data of SunSirs, the acetic acid market continued to decline. On the 19th, the price of acetic acid was 7,660.00 RMB/ton, down 0.49% from previous day and down 4.99% from the beginning of May.
Analysis review
The domestic acetic acid market is operating weakly. At present, the acetic acid plant is under normal operation, the manufacturer’s inventory is increasing, and the acetic acid supply in the market is sufficient. The downstream on-demand traders purchased rationally, so the purchase is limited, the market transaction is weak, In the short term, the downstream dominates, and the mood in the field is mainly bearish.
Market outlook
The acetic acid analyst of SunSirs believes that the current domestic acetic acid manufacturers have increased inventories and the market supply is sufficient, but the company reflects that the spot is still tight, and the market price remains high in short term. As downstream procurement is based on demand, from the perspective of overall market supply and demand, the acetic acid market is expected to decline slightly in the later period.
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