Price trend
According to the monitoring of the bulk data of SunSirs, the domestic acetic acid market continued to rise due to the tightening of the spot supply in the market. As of July 7, the average price of acetic acid in East China was about 2,843 RMB/ton, an increase of 6.43% from the beginning of the month of 2,333 RMB/ton, and the month-on-month increase was 10.86%. At present, the price of acetic acid is 2,450-2,550 RMB/ton in Shandong, 2,450-2,550 RMB/ton in Jiangsu, 2,550-2,650 RMB/ton in Zhejiang, 2,200-2,300 RMB/ton in Henan, and 2,400-2,450 RMB/ton in Hebei, and about 2,050 RMB/ton in the northwest region.
Analysis review
At present, most domestic acetic acid companies are mainly based on delivery contracts, and their stocks have dropped to low levels. In addition, the maintenance of large acetic acid factories in Jiangsu has been overhauled, resulting in a shortage of spot supply in the market, coupled with the need for stability in the downstream market, which is good for market price support. Enterprises in North China and Central China have started construction steadily. Due to the warm market atmosphere and tight shipments, some companies have closed their markets. South China has been boosted by the rise of other regions, but downstream market demand is still light.
In the upstream market, the methanol market fluctuates and adjusts. There are many maintenance companies in the northwest region, and there is a slight intention to push up. However, the downstream market is weak and the mentality of the industry is not good. The current methanol price is around 1,627 RMB/ton. On the downstream side, downstream industries such as vinyl acetate and acetate maintain rigid demand, and the overall operating rate is flat. Affected by the rising acetic acid of raw materials, the price remains firm, but in the long run, the demand side does not support the price of acetic acid.
In terms of the international market, the overall supply of acetic acid in Asia has declined. Due to the influence of international relations, the limited import of acetic acid in South Asia has led to the diversion of some goods to the surrounding markets, with the current quotation of about 280-320 US dollars/ton; the overall supply in the European market is stable, and prices have fallen due to poor demand. The current price is about 540 euros/ton; the North American market is affected by the bullish demand for methanol and PTA, and the price is rising, currently about 455 US dollars/ton.
Market outlook
The acetic acid analysts of SunSirs believe that the recent shutdown and maintenance of Jiangsu Sopu and Shanghai Huayi devices has intensified the market supply tension. Therefore, the East China region has continued to rise, driving the surrounding market upward. However, the downstream market purchasing is still mainly on the demand, and the purchasing is rational. It is expected that the spot supply will still be tight in a short time. Pay attention to the enterprise maintenance recovery.
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