SunSirs: Insufficient Demand, the Methyl Acetate Market Was Stalemate and Consolidating
May 17 2024 15:04:59 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 15th, the average market price of methyl acetate was 4,462 RMB/ton, which was the same as last week.
Analysis review
In terms of cost
Methanol: Domestic methanol prices had increased this week. On May 15th, the price of methanol was 2,828 RMB/ton, and on May 8th, the price of methanol was 2,654 RMB/ton, an increase of 6.5% from last week. Part of the methanol units on the supply side were repaired as scheduled, and some units unexpectedly shut down, resulting in overall tight supply. Traders had a strong sentiment of price support, mainly driving the upward movement of the mainland market.
Acetic acid: The domestic price of acetic acid had increased this week. On May 15th, the price of acetic acid was 3,400 RMB/ton, and on May 8th, the price of acetic acid was 3,300 RMB/ton, an increase of 3% from last week. As of May 15th, the operating rate of acetic acid enterprises had returned to a relatively high level, and the supply of goods from suppliers was sufficient. The demand of downstream PTA and EVA, as well as the export volume of acetate, had increased simultaneously. Under the resonance of supply and demand, the price of acetate had risen.
Market outlook
Overall, upstream methanol and acetic acid continued to rise, but the performance of the methyl acetate market was poor. In terms of demand, terminal consumption was slow, downstream purchases followed up on demand, and the demand side continued to be bearish. It is expected that the methyl acetate market will remain stagnant and consolidate in the short term.
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