Price trend

According to the SunSirs Commodity Market Analysis System, as of September 28, the average acetic acid market price was 2,640 RMB/ton, up 20 RMB/ton, or 0.76%, from the price of 2,620 RMB/ton on September 22. Last week, domestic acetic acid prices continued to strengthen. On the supply side, some units under maintenance had not yet resumed operations, leading to a decline in acetic acid capacity utilization. However, downstream pre-holiday restocking was steady, leading to a positive market trading atmosphere, active shipments, and low inventories. The fundamentals were primarily positive, and market sentiment was bullish, leading to another increase in acetic acid prices.

Analysis review

The market for raw material methanol experienced volatility last week. As of the 28th, the domestic market average price was 2,263 RMB/ton, a 0.35% increase from the price of 2,255 RMB/ton on September 22nd. Recent high import volumes had led to a continued accumulation of methanol in ports, with downstream buyers seeking lower prices. This continued to suppress the spot market, resulting in a weak overall market performance, with primarily narrow fluctuations.

The downstream acetic anhydride market remained strong, with the average ex-factory price remaining at 4,212.50 RMB/ton from September 22nd to 28th. High upstream acetic acid prices supported a positive market sentiment. Pre-holiday downstream restocking was in line with demand, and companies continued to deliver decent shipments. Acetic anhydride prices remained stable throughout the period, with a wait-and-see attitude.

Market outlook

An acetic acid analyst from SunSirs believes that the domestic acetic acid production capacity utilization rate has decreased on a month-on-month basis, corporate inventories have declined, downstream stocking was nearing completion, and market transactions followed demand. As of September 28, there was less supply and more demand on the market. It is expected that the acetic acid market will continue to be strong in the future, and attention will be paid to market supply in the future.

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