Price trend
The listing price of Sinopec East China is executed at 6,550 RMB/ton, and the listing price of Sinopec North China is executed at 6,550 RMB/ton. The acetone market in East China has experienced a narrow downward trend, with negotiated prices ranging from 6,400-6,450 RMB/ton. There was slight replenishment at the port at the beginning of the week, and the port had a capacity of around 35,500 tons. Traders have increased their intention to ship, and there is room for discounts on actual orders. However, coupled with weak demand and a clear lack of trading volume, the market opened lower at the beginning of the week.
Analysis review
The acetone offers in major mainstream markets across the country on February 24th were as follows:
|
Area |
Quotations (RMB/ton) |
Daily Change (RMB/ton) |
|
East China |
6,400 |
-100 |
|
Shandong |
6,450 |
-50 |
|
Yanshan |
6,600 |
-50 |
|
South China |
6,400 |
-50 |
Market outlook
On the 25th, LihuaYi’s acetone reduced its price by 50 RMB/ton to 6400 RMB/ton. The operating rate of the acetone industry is around 80%, and the operating rate has been relatively stable recently. In the short term, the industry's mentality is bearish, and sporadic enterprises intend to lower their listing prices. The market trading atmosphere is average, and downstream demand is strong. It is expected to maintain stable operation on the 25th.
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