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SunSirs: Trading Volume Was Insufficient, and the Domestic Acetone Market Was Mainly Downward
August 11 2023 13:38:37SunSirs(John)

Price trend

Since August, the domestic acetone market has been continuously declining. According to the Commodity Market Analysis System of SunSirs, the national acetone market has dropped from 6,987 RMB/ton on August 1st to 6,770 RMB/ton on August 11th, a cumulative decline of 3.11%.

Analysis review

The factories have centrally lowered the listing prices. The centralized reduction of 200 RMB/ton by petrochemical enterprises has put pressure on the newly profitable phenolic ketone factories again, reducing profits to near the profit and loss line. Under the influence of the factory reduction, traders' shipping intentions have increased, and the market continues to dip slightly.

Terminal factories follow up on demand, and the participation of small and medium-sized traders is relatively low. The enthusiasm of terminal factories to enter the market is not high, and the wait-and-see sentiment in the market has increased. In early August, factories mainly focused on contracts, while downstream processing enterprises entered the market cautiously. However, facing weak market fundamentals, the participation of intermediate traders is not high, market transactions are limited, and activity is difficult to improve.

The supply side is tight, and the possibility of a significant decline in acetone is reduced. The operating rate of phenolic ketone enterprises is around 70%. According to statistics, in August, there were approximately 17,000 tons of cargo in transit and approximately 11,000 tons in transit. The overall supply pressure is not significant.

Market outlook

At present, the terminal operating rate has not significantly improved, mainly on demand, and the market supply pressure is not significant. The range of traders actively offering profits for shipment is limited, and it is expected to maintain a range adjustment next week, with little possibility of broad fluctuations.

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