SunSirs: Supply Exceeded Demand, Acetic Acid Market Continued to Decline This Week (October 23-29)

Price trend

According to the monitoring of the bulk data of SunSirs, the average price of acetic acid on October 29 was 6,760 RMB/ton, compared with the price of 7,240 RMB/ton on October 23, it was lowered by 480 RMB/ton during the week, a decrease of 6.63%, and a month-on-month decrease of 24.30%.

Analysis review

The domestic acetic acid market was weak down. Most of the acetic acid enterprises on the premises were operating stably, and the inventory was increasing; while the downstream was affected by the limited power and production, the downstream starts were low, and there was no significant increase in market demand. The purchase of the market was still mainly rational. On-site trading was thin, which led to the continuous increase of acetic acid inventory, coupled with the slow consumption of market sources, domestic acetic acid companies continued to lower their quotations in order to maintain shipments.

Downstream, the market for EA continued to weaken this week. As of October 29, the price of EA in East China was 9,675.00 RMB/ton, and the price dropped by 3.85% during the week. Most of the factory installations were operating normally, corporate inventories were rising, and market supply was sufficient, while downstream industries were affected by power restrictions, demand was average, transactions were lacking, and the speed of shipments of EA manufacturers had declined, and the market was weakly downward.

Market outlook

The acetic acid analyst of SunSirs believes that in terms of domestic market supply, the manufacturers' installations are running smoothly, the supply of acetic acid in the market is sufficient, and the downstream procurement is still rational, and the contradiction between supply and demand will not be significantly improved in a short time. It is expected that the market outlook will remain stable for the time being, with specific attention to market transactions.

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