Price trend

According to the SunSirs Commodity Market Analysis System, as of October 22nd, the average acetic acid market price was 2,600 RMB/ton, down 40 RMB/ton, or 1.52%, from 2,640 RMB/ton on October 11th. The domestic acetic acid market weakened in mid-month. Although some supply-side equipment was undergoing maintenance, resulting in a decrease in acetic acid capacity utilization, downstream demand remained subdued, with purchases primarily driven by immediate needs. The market sentiment was subdued, inventories accumulated, and the market sentiment was bearish. To maintain a steady pace of shipments, acetic acid prices continued to decline. 

Analysis review

The market for raw material methanol experienced volatility this week. As of the 22nd, the domestic market average price was 2,236 RMB/ton, down 0.27% from 2,242 RMB/ton on October 11th. The average price of methanol at ports strengthened, driven by active destocking efforts. Subdued downstream purchasing sentiment, coupled with accumulated inventory by mainland enterprises, continued to suppress the spot market, resulting in a weak overall methanol market.

The downstream acetic anhydride market remained weak. From October 11th to 22nd, the average ex-factory price of acetic anhydride fell from 4,212.50 RMB/ton to 4,177.50 RMB/ton, a decrease of 0.83%. The weak and downward trend in upstream acetic acid prices created a bearish market sentiment. Downstream purchasing enthusiasm was low, with demand driven purchases primarily. The market trading atmosphere was subdued, and acetic anhydride prices consolidated downward during the period.

Market outlook

An acetic acid analyst from SunSirs believes that the domestic acetic acid production capacity utilization rate was high, downstream demand was limited, corporate inventories were rising, the market trading atmosphere was weak, and on-site demand was poor. It is expected that the acetic acid market will be weaker in the later period, and attention will be paid to the market supply situation in the future.

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