Price trend:

According to the SunSirs' commodity market analysis system, as of November 28th, the average market price of acetic acid was 2,550.00 RMB/ton, an increase of 46.67 RMB/ton or 1.86% compared to the price of 2,503.33 RMB/ton on November 21st. The domestic acetic acid market continued its upward trend last week. Acetic acid capacity utilization was low, market inventory supply decreased, long-term orders for factories increased at the end of the month, and enterprise inventories declined, leading to a sustained rise in acetic acid prices. Downstream inquiries also increased, creating a strong bullish market sentiment. These combined positive factors supported the strong upward trend in acetic acid prices.

Market Analysis

Methanol prices rose sharply last week. As of the 28th, the average domestic market price was 2,115 RMB/ton, a 6.02% increase compared to 1,995 RMB/ton on November 21st. Limited overseas natural gas supply led to the shutdown of overseas plants, increased port shipments, and a rebound in port market prices. This also boosted the spot market, increased downstream demand, and smooth sales for methanol producers, resulting in a strong methanol market.

The downstream acetic anhydride market fluctuated, with the average ex-factory price of acetic anhydride decreasing from 4,025.00 RMB/ton to 4,012.50 RMB/ton from November 21st to 28th, a drop of 0.31%. Upstream acetic acid prices remained strong, increasing cost pressure on acetic anhydride. Downstream buyers showed little enthusiasm for entering the market, resulting in weak demand and a lackluster market trading atmosphere. Consequently, acetic anhydride prices remained weak throughout the period.

Market outlook

According to analysts at SunSirs, domestic acetic acid companies were seeing declining inventories, boosting manufacturers' confidence. Downstream demand was also steadily increasing, leading to a strong bullish sentiment among industry players. It is expected that the acetic acid market will continue its upward trend in the near future, with market supply being a key factor to watch.

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