Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 28th, the average price of acetic acid was 2,800 RMB/ton, a decrease of 80 RMB/ton compared to the price of 2,880 RMB/ton on February 24th, a decrease of 2.78%, and a decrease of 5.08% compared to the beginning of the month.

Analysis review

This week, the acetic acid market has been weakly declining, and enterprise quotations have continued to decline. On the supply side, the domestic acetic acid maintenance equipment has been restored, the utilization rate of on-site production capacity has increased, the mentality of enterprises was poor, downstream factory demand was weak, market transactions were insufficient, and enterprise shipments were not smooth. Under the game of supply and demand, acetic acid quotations have fallen.

The upstream methanol market was running strongly. From February 24th to 28th, the average price in the domestic market increased from 2,618.33 RMB/ton to 2,629.17 RMB/ton, with an overall increase of 0.41%. During the week, some downstream inquiries were made for external procurement, which boosted the mainland market and led to a strengthening of methanol prices. However, downstream consumers still had some resistance to high prices, which has restrained the increase and caused a slight fluctuation in the overall price.

The downstream acetic anhydride market has experienced a narrow downward adjustment. On February 28th, the average ex factory price of acetic anhydride was 5,095 RMB/ton, a decrease of 0.29% compared to the price of 5,110 RMB/ton on February 24th. The upstream acetic acid market was weak and declining, the cost of acetic anhydride was bearish, and enterprise quotations have been lowered accordingly. The demand side was lukewarm, and the price of acetic anhydride was running weakly this week.

Market outlook

The acetic acid analyst from SunSirs believes that the trading atmosphere in the acetic acid market was weak, and downstream entry enthusiasm was not high. Supply side manufacturers faced significant sales pressure, and the atmosphere was bearish. It is expected that the acetic acid market will continue to operate to be weaker in the later stage, and downstream follow-up will be closely monitored in the future.

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