Price trend

According to the Commodity Market Analysis System of SunSirs, the price trend of acetic acid in March first increased and then decreased. As of March 31, the price was 2,810 RMB/ton, which was an increase of 10 RMB/ton compared to the acetic acid price of 2,800 RMB/ton at the beginning of the month, with a monthly increase of 0.36%.

Analysis review

In early March, the price of acetic acid rose strongly, mainly due to the maintenance of some factory facilities, resulting in a decrease in the utilization rate of acetic acid production capacity. At the same time, the bidding prices of large factories in the northwest continued to rise, and the atmosphere in the market was bullish. The market trading direction was good, and the acetic acid quotation was adjusted upwards; In mid-late March, as the maintenance equipment resumed operation, the market supply increased, but downstream entry enthusiasm was not high, market transactions were limited, and sales pressure from manufacturers continued to increase. Under the supply-demand game, the price of acetic acid continued to decline.

The methanol market on the raw material side was fluctuating and consolidating. As of March 31st, the average price in the domestic market was 2,590 RMB/ton, a decrease of 1.49% compared to the beginning of the month price of 2,629 RMB/ton. During the month, some methanol plants were shut down for maintenance, boosting the spot market. However, downstream traders were mainly observing and waiting, and their enthusiasm for purchasing goods was limited. There was insufficient support for favorable conditions in the market. At the same time, some areas have increased their supply of goods, leading to a weak downward trend in the methanol market due to active destocking.

Market outlook

SunSirs’ analysts believe that the trading atmosphere in the acetic acid market was relatively weak, with industry players mainly negotiating on demand. In the short term, the acetic acid market will continue to operate steadily, and some domestic manufacturers will release maintenance plans in the later stage, which will have a certain boost to the market. The sales pressure on the supply side will weaken. In the long run, the utilization rate of acetic acid production capacity next month will decrease, and the price of acetic acid in the future may rise. Please pay attention to the follow-up situation downstream.

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