Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 21, the average price of acetic acid was 2,880 RMB/ton, an increase of 50 RMB/ton compared to the price of 2,830 RMB/ton on February 15, an increase of 1.77%, and a decrease of 2.37% compared to the beginning of the month.

Analysis review

This week, the acetic acid market continued to operate to be stronger, and enterprise quotations continued to rise. On the supply side, domestic acetic acid companies were scheduled for maintenance, resulting in a decrease in on-site capacity utilization. At the beginning of the week, acetic acid companies' quotations rose sharply, while downstream factories started production, resulting in decent demand and positive market transactions. With the support of favorable suppliers during the week, acetic acid quotations continued to increase.

The upstream methanol market was fluctuating. From February 15th to 21st, the average domestic market price increased from 2,578 RMB/ton to 2,598 RMB/ton, with an overall increase of 0.78%. The utilization rate of methanol production capacity remained high during the week. Although downstream external procurement boosted the mainland market, rational procurement was mainly maintained, and overall trading in the mainland market was weak and volatile.

The downstream acetic anhydride market has seen a narrow upward adjustment. On February 21st, the average ex factory price of acetic anhydride was 5,110 RMB/ton, an increase of 0.49% compared to the price of 5,085 RMB/ton on February 15th. The upstream acetic acid market continued to rise, and the cost of acetic anhydride was favorable. Enterprise quotations have increased significantly, and the demand side was following up on demand. Acetic anhydride prices have slightly increased during the week.

Market outlook

The acetic acid analyst from SunSirs believes that the utilization rate of acetic acid production capacity was not high, and the supplier's mentality was strong. Next week, domestic equipment maintenance or normal operation may resume, and the market supply will increase. The downstream will actively follow up, and the supply and demand in the market will be relatively balanced. It is expected that the acetic acid market will be narrowly consolidated in the later stage, and the overall operation will be stable. The downstream follow-up situation will be closely monitored in the future.

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