SunSirs: Acetic Acid Market Was Weak and Declined

Price trend

According to the Commodity Market Analysis System of SunSirs, as of April 30th, the average price of acetic acid in East China was 3,233.33 RMB/ton, an increase of 2.02% from the price of 3,300.00 RMB/ton on April 24th, and a decrease of 1.52% from the beginning of the month.

Analysis review

The domestic acetic acid market is in a weak downward trend, with a weak enthusiasm for downstream purchases, light market transactions, and a pessimistic mentality among the industry. Acetic acid manufacturers have lowered their prices to stimulate shipment, coupled with the impact of buying up rather than buying down sentiment, lacking of positive news in the market, the trend of acetic acid prices were downward.

The upstream raw material methanol market had significantly declined. As of April 30th, the average price in the domestic market was 2,423.33 RMB/ton, a decrease of 5.15% compared to the price of 2,555.00 RMB/ton on April 24th. At the end of the month, the replenishment ended, supply recovery was overdue, on-site trading weakened, trade mentality was weak, and the methanol market was weak and declining.

The downstream acetic anhydride market was sorted up. As of April 30th, the factory price of acetic anhydride was 5,450 RMB/ton, which was the same as the price of 5,450 RMB/ton on April 24th. The upstream acetic acid price decreased, and the cost support for acetic anhydride weakened. Downstream procurement of acetic anhydride followed up on demand, and market negotiations were still good. The price of acetic anhydride was weak and temporarily stable.

Market outlook

SunSirs acetic acid analysts believe that the trading atmosphere in the acetic acid market was weak. Downstream purchasing enthusiasm was not good, there was insufficient trading on the market, and the rise of the acetic acid market was sluggish. Operators had a wait-and-see mentality. It is expected that the acetic acid market will consolidate in the later stage, and specific attention should be paid to downstream follow-up.

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