Price trend

According to the data monitoring of SunSirs, as of January 10, the average price of acetic acid in East China was 2,912.50 RMB/ton, down 1.27% from the price of 2,950.00 RMB/ton at the beginning of the month, and down 8.98% month-on-month.

Analysis review

The domestic acetic acid market was weak, the utilization rate of acetic acid production capacity in the market was high, the enterprise inventory was sufficient, the downstream construction was low, and the demand was limited. Some enterprises lowered prices to de-stock, the focus of market transaction moved down. In the later stage, the upstream price was firm, the enterprise cost was severely inverted, the price of acetic acid stopped falling and stabilized, and the market situation was wait-and-see.

The upstream raw material methanol market fluctuated and fell. As of January 10, the average price in the domestic market was 2,660 RMB/ton, down 1.42% compared with 2,698.33 RMB/ton at the beginning of the month. The coal price in the cost side was stable and weak, and the methanol cost benefit disappeared. The decline of crude oil and futures in the external side drove the simultaneous correction of methanol. The mainland returned to rationality, the buying atmosphere was weak, and the methanol market was weak.

The downstream acetic anhydride market was weak. As of January 10, the factory price of acetic anhydride was 5,250.00 RMB/ton, down 3.00% from the price of 5,412.50 RMB/ton at the beginning of the month. The upstream acetic acid price was weak, the cost support for acetic anhydride was insufficient, the downstream demand was limited, the market trading atmosphere was general, and the price of acetic anhydride continued to decline.

The market of ethyl acetate in the downstream market was significantly reduced. As of January 10, the average ex-factory price of ethyl acetate in East China was 6,900.00 RMB/ton, down 4.61% from the price of 7,233.33 RMB/ton at the beginning of the month. In terms of raw materials, the price of acetic acid was weak and downward, the cost was negative, the enthusiasm of downstream stock preparation at the demand end was weakened, the market follow-up was weak, and the price of ethyl acetate was lower under the weak supply and demand.

Market outlook

According to the acetic acid analyst of SunSirs, the operating rate of acetic acid in the site was high, the supply of goods was sufficient, the demand of downstream was low, the on-site trading was limited, and the oversupply in the market continued to exist. However, due to the high price of methanol as raw material for acetic acid, the cost of the enterprise was upside down, and the fall space of acetic acid price is limited in the short term. It is expected that the acetic acid market will be stable and on the sidelines for the time being and pay attention to the downstream follow-up.

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