SunSirs: The Acetic Acid Market Was Stronger and Rising This Week

Price trend

According to the commodity market analysis system of SunSirs, the price of acetic acid had continued to rise recently. On March 29th, the average market price of acetic acid was 3,100 RMB/ton, an increase of 100 RMB/ton compared to the price of 3,000 RMB/ton on March 25th, an increase of 3.33%, and the price remained unchanged from the beginning of the month.

Analysis review

This week, the acetic acid market was stronger and upward. At the beginning of the week, the price of acetic acid fell to a relatively low level, and downstream market purchases increased. The mentality of enterprises was bullish, and the price of acetic acid rebounded after hitting the bottom. Subsequently, the inventory of manufacturers gradually decreased. With the improvement of market trading atmosphere, enterprises had a strong intention to rise, and with the support of mentality, the price of acetic acid continued to rise.

The upstream raw material methanol market first fell and then rose. On March 29th, the average price in the domestic market was 2,593.33 RMB/ton, a decrease of 3.44% compared to the price of 2,685.83 RMB/ton on March 25th. Downstream olefin factories had reduced their procurement volume of methanol from mainland China, resulting in a general acceptance sentiment in the mainland market. The main focus was on maintaining essential procurement, while downstream demand was weak and the market was weak, leading to a decline in the methanol market.

The downstream acetic anhydride market continued to rise. On March 29th, the factory price of acetic anhydride was 5,462.50 RMB/ton, an increase of 2.10% compared to the price of 5,50.00 RMB/ton on March 25th. The increase in acetic acid prices had led to an increase in the cost of acetic anhydride. Acetic anhydride enterprises were operating steadily, and the market supply was sufficient. Downstream demand followed up, and under the influence of costs, the price of acetic anhydride was consolidating and rising.

Market outlook

According to the acetic acid analyst from SunSirs, the inventory of acetic acid enterprises had decreased, and the news from suppliers was positive. In April, some acetic acid manufacturers have a short-term shutdown plan, and market prices may rise. In addition, with the approaching Qingming Festival and downstream pre holiday restocking, the short-term acetic acid price will continue to rise, and attention will be paid to downstream follow-up in the future.

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