SunSirs: The Methyl Acetate Market Was Consolidated Upward
May 09 2024 11:24:24 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 8th, the average market price of methyl acetate was 4,462 RMB/ton, and on May 1st, the average market price of methyl acetate was 4,387 RMB/ton, an increase of 1.71 RMB/ton from last week.
In terms of cost
Methanol: Domestic methanol prices had slightly increased this week. On May 8th, the price of methanol was 2,670 RMB/ton, and on May 1st, the price of methanol was 2,651 RMB/ton, an increase of 0.69% compared to last week. In the first part of May, some large methanol maintenance still existed, and there was still a need for replenishment support after the holiday.
Acetic acid: The domestic price of acetic acid had increased this week. On May 8th, the price of acetic acid was 3,300 RMB/ton, and on May 1st, the price of acetic acid was 3,250 RMB/ton, an increase of 1.54% from last week. As of May 8th, the operating rate of acetic acid enterprises had returned to a relatively high level, and the supply of goods from suppliers was sufficient. Enterprises actively arranged inventory before the holiday, and the focused of market negotiations increases after the holiday.
Market outlook
Overall, the rising prices of upstream acetic acid and methanol had led to increased cost benefits. Downstream procurement followed up on demand, with better shipments from enterprises and fluctuations in trading quotes from traders, resulting in overall narrow fluctuations in market prices. It is expected that the methyl acetate market will consolidate and rise in the short term.
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