SunSirs: Acetic Acid Market Was Strong in Early September

Price trend

According to the SunSirs Commodity Market Analysis System, as of September 10th, the average acetic acid market price was 2,500 RMB/ton, up 70 RMB/ton, or 2.88%, from the price of 2,430 RMB/ton on September 1st. Since September, the domestic acetic acid market has been stronger. On the supply side, Henan's acetic acid production capacity was running low, and major acetic acid production facilities remained idle. This led to positive sentiment among industry players, with factory quotations rising significantly. Prices in other parts of the country had also followed suit. On the demand side, downstream companies were purchasing on demand, and companies were facing little sales pressure. This market sentiment led to firm acetic acid prices in early September.

Analysis review

The market for raw material methanol was stronger in early September. As of the 10th, the domestic market average price was 2,296 RMB/ton, a 1.91% increase from 2,253 RMB/ton on September 1st. Rising methanol futures prices drove positive spot methanol market trends, with companies seeing price increases. However, some downstream companies were resistant to the high prices, and demand was holding back on methanol price increases, resulting in a slight price increase during the period.

The downstream acetic anhydride market saw a slight increase. From September 1st to 10th, the average ex-factory price of acetic anhydride rose from 4,092.50 RMB/ton to 4,117.50 RMB/ton, a decrease of 0.61%. While the upstream acetic acid market was stronger, the acetic anhydride market sentiment was bullish. However, downstream demand was subdued, with limited shipments from companies and market sentiment fluctuating, leading to slight price fluctuations within the cycle.

Market outlook

The acetic acid analysts from SunSirs believe that some domestic acetic acid equipment under maintenance had not yet resumed operation, and the mentality was still strong. At the same time, there was not much pressure on corporate inventory, the supply side well supported, and the downstream demand side followed up as needed. The market trading atmosphere was good. It is expected that the acetic acid market will be stable and wait-and-see in the later period and the market supply situation will be paid attention to in the future.

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