SunSirs: Morning Forecast of Domestic Acetone Market on September 9th
September 09 2024 10:16:53 SunSirs (John)
Price trend
The focus of the domestic acetone market is temporarily stable, with Sinopec East China listed at a price of 6,000 RMB/ton, Sinopec North China listed at a price of 6,000-6,050 RMB/ton, and the East China market price falling to 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 restocking in the market was average. Traders were under great pressure, and there was a strong intention to ship. Currently, Sinopec factories also face pressure to accumulate inventory. Although the pressure on port inventory has eased, the decline rate is slow, and the market has bottomed out.
Market outlook
It is expected that the intention to lower prices will slow down today, and market news will stimulate the market. It is expected that the price in the East China market will be between 5,800-5,850 RMB/ton.
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