Price trend

According to the Commodity Market Analysis System of SunSirs, the price of acetic acid continued to decline in October, with a price of 2,900 RMB/ton as of October 30th. Compared with the acetic acid price of 3,250 RMB/ton at the beginning of the month, the price has decreased by 350 RMB/ton, a decrease of 10.77% during the month.

Analysis review

The acetic acid market experienced a weak decline in October. In terms of supply, the acetic acid plant on site was operating normally, and the market supply was stable. However, downstream buyers were generally enthusiastic about entering the market, and the inquiry atmosphere was sluggish during the month. Market transactions were limited, and manufacturers' shipments were hindered, leading to increased inventory pressure. In order to promote transactions, the focus of acetic acid trading has shifted downwards. However, downstream demand was weak, and there was a lack of favorable supply side factors, resulting in a continuous decline in the acetic acid market.

The methanol market on the raw material side was weakly volatile. As of October 30th, the average price in the domestic market was 2,440.00 RMB/ton, a decrease of 5.33% compared to the beginning of the month price of 2,577.50 RMB/ton. Returning from vacation, some downstream restocking has led to an increase in methanol prices; From the 9th to the middle of the month, fundamentals weakened, on-site supply increased, downstream demand did not follow smoothly, and methanol prices continued to fall; After the price fell to a low level, downstream gas buying improved, and then methanol prices rebounded accordingly; By the end of the month, due to the continuous increase in market supply and the availability of warehouses at ports, as well as the decline in futures prices, the methanol spot market had weakened and declined.

Market outlook

SunSirs’ analysts believe that the bearish atmosphere in the acetic acid market was evident, with insufficient downstream demand and a light trading atmosphere. The supply side had sufficient acetic acid inventory, but shipments were poor. The downstream mentality on the demand side was sluggish, with strong supply and weak demand in the market. It is expected that acetic acid prices will continue to be weak in the future, and specific attention will be paid to downstream replenishment in the future.

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