SunSirs: Manufacturers Supported the Price, and the Acetic Acid Market Was Finishing Up
November 10 2021 13:51:03 SunSirs (John)
Price trend
According to the monitoring of the bulk data of SunSirs, the average price of acetic acid on November 5 was 6,900 RMB/ton, compared with the price of 6,750 RMB/ton on October 30, an increase of 150 RMB/ton or 2.22%during the week, and a month-on-month decrease of 23.08%.
Analysis review
The domestic acetic acid market was sorted up and the acetic acid companies on the market had strong intentions to support the price, and the quotations continued to rise during the week. Downstream demand increased, acetic acid manufacturers were actively shipping, and the demand side gradually entered the market to cover positions after the market stabilized, which brought support to the acetic acid market. However, the downstream demand is currently limited, and the later price quotations may be mainly wait-and-see.
On the downstream side, the market for EA continued to be weak this week. As of November 5, the price of EA in East China was 9,587.50 RMB/ton, a price drop of 0.90% during the week. Factory equipment was operating normally, market supply was sufficient, downstream demand was average, and transactions were lacking. The EA market was weakly consolidating.
Market outlook
The acetic acid analyst of SunSirs believes that in terms of domestic market supply, manufacturers’ installations are more stable, market inventories are sufficient, and downstream demand has improved compared with before. Domestic acetic acid market inventory is stably shipped. It is expected that the market outlook for acetic acid will be sorted to run, with specific attention to downstream transactions.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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