Market Overview

In February 2026, the acetone market generally trended downwards, with prices slightly declining from the beginning of the month. This was primarily due to ample supply coupled with a weaker-than-expected recovery in demand, resulting in a loose supply-demand balance. Prices exhibited a pattern of "high-level decline followed by a narrow adjustment at the end of the month." February acetone prices continued the downward trend seen in January, with a moderate decline and minimal regional differences. According to data from SunSirs, the benchmark price of acetone on February 27th was 4,605.00 RMB/ton, a 2.02% decrease from the beginning of the month (4,700.00 RMB/ton). As of February 27, it was at a relatively low level compared to the past year, only 557.5 RMB/ton higher than the annual minimum of 4047.50 RMB/ton.

Supply side: Increased operating rates and continued inventory accumulation

In February, the domestic acetone supply side exhibited a pattern of "recovering operating rates and increasing inventory," which was the main driver of the market downturn. As of February 24, domestic acetone port inventory reached 51,500 tons, an increase of 10,000 tons from February 13, remaining at a reasonably high level. The operating rate of domestic phenol-acetone plants was 88.64%, an increase of 2.61% from the previous week. Reduced plant maintenance and full capacity release, coupled with expectations of new capacity additions in 2026, have maintained the oversupply situation. Further arrivals of shipments will further increase inventory, reinforcing the ample supply. another key factor contributing to the market downturn. The Spring Festival holiday in February delayed the resumption of work in downstream industries, with procurement mainly focused on immediate needs, making it difficult to absorb the ample supply. Among major downstream industries, the operating rates of bisphenol A, MMA, and isopropanol all declined, while the operating rate of MIBK remained flat with no increase. Solvent factories were basically shut down during the Spring Festival, further weakening demand support.

Limited cost support and lackluster market sentiment.

On the cost side, the relatively strong benzene prices this month provided some support for acetone, mitigating the downward pressure, but did not change the overall trend. The limited transmission of high crude oil prices, coupled with oversupply, weakened cost support. In terms of market sentiment, the basic chemical sector, including acetone, was mixed, with industry players mainly adopting a wait-and-see approach and showing weak willingness to actively purchase, further pushing prices down.

Short-term fluctuations are expected, but medium- to long-term pressures remain.

The acetone market declined in February, primarily due to a combination of ample supply and weak demand. The current loose supply-demand situation remains unchanged, with short-term price fluctuations and continued medium- to long-term pressure. In the short term, downstream resumption of work and production will drive a slow recovery in demand, but supply remains abundant. It is expected that the acetone spot market will experience weak fluctuations in March, with mainstream prices in East China potentially reaching 4,500-4,700 RMB/ton.

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