SunSirs: The Domestic Acetone Market Continued to Bottom out on September 3rd
September 04 2024 09:07:31 SunSirs (John)
Price trend
On September 3rd, the listing price of acetone in Sinopec East China was lowered by 200 RMB/ton, with an execution of 6,000 RMB/ton, and the listing price of Sinopec North China was lowered by 200 RMB/ton, with an execution of 6,000-6,050 RMB/ton.
Analysis review
The domestic acetone market continued to bottom out, with prices in the East China market falling to 5,900 RMB/ton. The market fundamentals had not changed much, but the market price had fallen to a low level. There had been an increase in inquiries from traders entering the market, and the intention of traders to lower prices in the afternoon had weakened. The offer price had temporarily stopped falling, and it is understood that the market transaction situation was average.
Market outlook
Overnight crude oil prices dropped significantly, and with sufficient supply in the acetone market, it is expected that the acetone market will maintain stable operation on September 4th.
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