SunSirs: The Acetic Acid Market was Deadlocked and Sorted out

Price trend

According to the Commodity Market Analysis System of SunSirs, as of June 30th, the average price of acetic acid was 2,520.00 RMB/ton, a decrease of 53.33 RMB/ton or 2.07% from the acetic acid price of 2,573.33 RMB/ton on June 23rd.

Analysis review

Recently, the acetic acid market was in a stalemate and consolidation, with price differentials operating in different regions. On the supply side, the utilization rate of acetic acid production capacity increased, enterprise inventory had accumulated, and downstream purchases were inconsistent. Shipments in Shandong and North China were poor, while in South China, due to the support of new long-term contracts, the early week quotation was raised. However, in terms of demand, the overall follow-up of downstream was limited, and the market trading atmosphere was average, resulting in a weak downward trend in acetic acid prices.

As of June 30th, the market prices of acetic acid in various regions were as follows:

The upstream methanol market was running strongly. From June 23rd to 30th, the average price in the domestic market increased from 2,720 RMB/ton to 2,805 RMB/ton, with an overall increase of 3.13%. The import volume of methanol decreased, and external prices increased, boosting the spot market. The domestic methanol market was experiencing strong fluctuations.

The downstream acetic anhydride market was weak and declining. On June 30th, the average ex factory price of acetic anhydride was 4,292.50 RMB/ton, a decrease of 0.17% compared to the price of 4,300.00 RMB/ton on June 23rd. The upstream acetic acid market was weak and consolidating, and the cost of acetic anhydride was bearish. Downstream buyers followed up on demand, and the market trading atmosphere was weak. During the cycle, the price of acetic anhydride was weakly consolidating.

Market outlook

The acetic acid analyst from SunSirs believes that the acetic acid market had sufficient supply, with high pressure on enterprise shipments and slow downstream consumption. The demand for acetic acid was limited, and the market supply-demand game was dominant. It is expected that the acetic acid market will be weaker in the short term. Specific attention should be paid to changes in equipment and downstream follow-up situations.

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