SunSirs: Acetic Acid Prices Continued to Decline in Early July

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid continued to decline in early July. As of the 9th, the average market price of acetic acid was 2,430 RMB/ton, a decrease of 2.41% from the beginning of the month price of 2,490 RMB/ton. The domestic acetic acid market has fallen, mainly due to the increase in supply of acetic acid and insufficient demand follow-up, resulting in the accumulation of enterprise inventory, bearish market sentiment, and a downward shift in acetic acid prices. However, downstream stocking intentions were not high, and market transactions remained flat. Under the supply-demand game, the price center of acetic acid continued to decline.

Analysis review 

The upstream methanol market continued to decline in early July. As of the 7th, the average price in the domestic market was 2,390 RMB/ton, a decrease of 5.53% from the beginning of the month price of 2,530 RMB/ton. The downstream market for methanol was weak, with average demand performance. In terms of external markets, the delivery of methanol in mainstream ports has ended, weakening support for the spot market. There was a lack of favorable conditions in the market, leading to a weak downward trend in the methanol market.

Market outlook

The acetic acid analyst from SunSirs believes that the utilization rate of domestic acetic acid production capacity remained high, and there was significant inventory pressure on enterprises. Downstream companies were mainly observing and waiting, and the trading atmosphere on the market was average. The market situation was that supply exceeded demand, and it is expected that the acetic acid market will operate weakly in the short term. In the future, attention will be paid to downstream follow-up situations.

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