SunSirs: The Market for Acetic Acid Was Stable and Wait-and-See (November 13-19)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of acetic acid on November 19th was 3,150 RMB/ton, which was the same as the price of 3,150 RMB/ton on November 13th, and decreased by 11.89% compared to the previous month.

Analysis review

During the week, the acetic acid market remained stable on the sidelines, with average downstream demand. Purchasing in the market was mainly on demand, and the trading atmosphere was flat. Acetic acid companies maintained rational inventory and actively shipped, sales pressure was low overall and the market price was supported.

The upstream raw material methanol market first rose and then fell. As of November 19, the average price in the domestic market was 2,490.00 RMB/ton, an overall increase of 1.19% compared to the price of 2,460.83 RMB/ton on November 13. The coal price had rebounded from a decline, and the macro economy was improving, providing some support for methanol prices. Enterprises and holders had strong quotations, but downstream delivery willingness was average, delivery prices were weak, cost transmission was limited, and the methanol market was fluctuating and consolidating.

The downstream acetic anhydride market was operating to be weaker. As of November 19, the factory price of acetic anhydride was 5,762.50 RMB/ton, an increase of 0.66% compared to the price of 5,725.00 RMB/ton on November 13. The upstream acetic acid prices were mainly high, while the cost support for acetic anhydride still existed. The acetic anhydride market was under construction, with a decrease in spot supply and an increase in upward momentum. The prices of acetic anhydride manufacturers had increased.

Market outlook

SunSirs’ acetic acid analysts believe that the overall utilization rate of acetic acid production capacity was high, the market supply was sufficient, the downstream market was weak, the purchasing enthusiasm was average, the trading atmosphere was light, and buyers are mainly bearish. From the perspective of manufacturers, there was no pressure on inventory, and they maintained a positive shipping attitude. Many factories had a high price mentality, and the market supply and demand game lack effective benefits in the future. It is expected that there will be a short-term stagnation and consolidation of acetic acid, and specific attention should be paid to downstream replenishment in the future.

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