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SunSirs: Factories Adjusted Up, Acetone Market Was Narrowly Upward
August 17 2023 10:22:41SunSirs(John)

Price trend

Sinopec East China Phenol Ketone Enterprise raised its acetone price by 150 RMB/ton, with an increase of 6,800 RMB/ton. Sinopec North China Phenol Ketone Enterprise raised its acetone price to 6,900 RMB/ton, but there was little market fluctuations, with a calm seller mentality and low enthusiasm for downstream entry. According to the Commodity Market Analysis System of SunSirs, the national acetone market had slightly increased from 6,825 RMB/ton on August 9th to 6,950 RMB/ton on August 15th, a cumulative decrease of 1.85%.

Analysis review

Factories had raised their listing prices in a concentrated manner, but the atmosphere of traders pushing up prices was not positive. Downstream buying was mainly focused on small orders, and the participation of intermediate traders was limited. But the market supply pressure was not significant, and the overall narrow range was upward.

The operating rate of phenolic ketone enterprises was around 70%, and the enterprises had turned losses into profits, but the theoretical value of profit space was limited.

From an upstream perspective, pure benzene fell first and then rose, with a transaction price at 7,650 RMB/ton. The trading atmosphere on the market was anxious, and crude oil continued to rise, providing support for downstream industry chain market prices. However, the demand side was weak in receiving goods, and the push up was weak. In the short term, the market was mainly focused on transactions that were just in needed.

From a downstream perspective, firstly, the bisphenol A market continued to be strong, mainly due to limited on-site resources. On the factory side, the offer was firm, intermediaries followed suit, and they did not sell at low prices. The mainstream domestic negotiations ranged from 10,700 to 10,750 RMB/ton. The MIBK market was stable, with little recent volatility. The market was mainly in demand, and negotiated prices were at 12,600 RMB/ton.

Market outlook

SunSirs predicts that the acetone market will be adjusted narrowly in the short term, with the mainstream negotiated price in East China ranging from 6,800 to 6,850 RMB/ton.

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