Price trend

On October 13, Sinopec lowered its listed prices, extending the market's downward trend. Sinopec's East China acetone price was reduced by 100 RMB/ton to 4,400 RMB/ton, while Sinopec's North China acetone price was reduced by 200 RMB/ton to 4,300 RMB/ton. Factory profits fell again, and it is difficult to reverse the loss situation in the short term.

Analysis review

Supply was ample, with port inventories rising to a high of 31,000 tons at the start of the week. Domestic phenol-acetone plants were operating at nearly 80% capacity, resulting in high spot market liquidity and pressure on traders to ship goods, leading to frequent availability of low-priced goods. Sinopec's centralized price reductions at this time exacerbated market wait-and-see sentiment. Regarding demand, participation from intermediary traders was limited, while downstream factories were following suit due to rigid demand, resulting in few firm orders. However, the market is currently at a yearly low, and downstream manufacturers are purchasing in appropriate quantities based on demand.

The acetone quotations in major mainstream markets across the country on October 14 are as follows:

Market outlook

From the perspective of SunSirs, the acetone market situation is unlikely to change in the short term. The market is still operating weakly today and trading is unlikely to improve.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.