Price trend

According to the data monitoring of SunSirs, the acetic acid market rose first and then fell in October. The average price of acetic acid at the beginning of the month was 3,312.20 RMB/ton, and the price at the end of the month was 3,442.50 RMB/ton, with a rise of 3.92% in the month and a year-on-year decrease of 49.00%.

Analysis review

In October, the acetic acid market rose first and then fell. At the beginning of the month, the methanol market on the raw material side rose, and the cost support was good. The downstream demand for replenishment after the festival was good. In addition, the utilization rate of acetic acid capacity in the market was low, the manufacturer's shipment was smooth, the enterprise was optimistic, and the quotation continued to rise. Later, as the downstream replenishment intention weakened and the acetic acid manufacturers in the market resumed to work, the oversupply became more and more obvious, and the dominant power turned to the buyer's market. The focus of the discussion among the commodity holders shifted downward. In addition to the weak downward trend of the raw material methanol, the cost support was insufficient, the market mentality was bearish, and the price of acetic acid continued to decline. At the end of the month, the acetic acid plant of Shandong enterprises was shut down, the inventory pressure slowed down, and the acetic acid market stopped falling and stabilized.

The raw material methanol market rose broadly and then fell sharply. As of 31, the average price in the domestic market was 2,790.00 RMB/ton, a 7.39% drop compared with the price of 3,012.50 RMB/ton on October 1. The price of methanol raw material natural gas fell, the methanol cost support weakened, while the downstream inventory was sufficient, purchasing was limited, and the market negotiation atmosphere was weak. In addition, due to the impact of public health, local transportation was blocked, and some enterprises increased their inventory. The traders had the intention of destocking, and the methanol price was continuously lowered.

The downstream ethyl acetate market rose first and then fell in October. The quotation at the end of the month was 6,966.67 RMB/ton, down 0.52% from the beginning of the month. The raw material acetic acid market rose first and then fell. The market trading and investment were mainly weak. The cost support for ethyl acetate was not enough. The downstream demand continued to be weak, the enterprise was not enthusiastic about getting goods, and it was just necessary to follow up. The supply of ethyl acetate was sufficient in the field, the manufacturer reduced the price and discharged the stock, and the market of ethyl acetate was weak.

Market outlook

According to the analysts of SunSirs, the acetic acid market is stable at present. Although some manufacturers have stopped their equipment at the supply end, the market supply is still high, while the downstream market entry continues to be weak, and the demand is not good enough. In the short term, the acetic acid market is temporarily stable. In addition, the market has heard that there is a parking plan for the acetic acid plant in Shunda, Henan. It is expected that the acetic acid market will rise slightly in the future, with specific attention to the changes in market supply and demand.

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