SunSirs: The Morning Forecast of Domestic Acetone Market on September 6th
September 06 2024 09:12:29 SunSirs (John)
Price trend
The domestic acetone market continued to bottom out, constantly breaking this year's lows. On the 5th, the East China region negotiated a price of 5,770-5,850 RMB/ton.
Analysis review
At the beginning of the month, there was a strong wait-and-see atmosphere in the market, with terminal factories mainly digesting contracts, and the situation of replenishment entering the market was average. Traders were under great pressure, and there was a strong intention to sell at a lower price. At present, Sinopec's factories also face pressure from accumulated inventory. Although the pressure on port inventory has eased, the decline rate is relatively slow, and the market has bottomed out.
Market outlook
It is expected that the intention to lower prices will slow down today, and attention should be paid to market news to stimulate the market.
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