SunSirs: The Factory's Mentality Was Quite Positive, with Acetic Acid Showing a Strong Upward Trend in Mid November
November 21 2024 11:11:59 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 19th, the average price of acetic acid was 2,860 RMB/ton, an increase of 90 RMB/ton or 3.25% compared to the price of 2,770 RMB/ton on November 11th.
Analysis review
In mid November, the acetic acid market was relatively stronger, and enterprise quotations continued to rise. On the supply side, there was a maintenance of the acetic acid plant on site, resulting in a decrease in production capacity utilization rate and a reduction in inventory pressure for enterprises, leading to a positive increase in quotations; On the downstream side, some restocking was being followed up, and the market trading atmosphere was good. Manufacturers were observing the downstream purchasing situation, and the acetic acid quotation continued to increase.
The upstream methanol market has risen strongly. From November 11th to 19th, the average domestic market price increased from 2,464.17 RMB/ton to 2,525.00 RMB/ton, with an overall decline of 2.47%. The downstream demand situation has risen, the market was buying well, and the futures market has risen, which has given a certain boost to the spot price of methanol. At the same time, the increase in shipping costs has led to a strong trend in methanol prices.
The downstream acetic anhydride market was operating to be weaker. On November 19th, the average ex factory price of acetic anhydride was 4,972.50 RMB/ton, a decrease of 1.58% compared to the price of 5,052.50 RMB/ton on November 11th. The upstream acetic acid market was strong and rising, and the cost of acetic anhydride was favorable. However, downstream demand was insufficient, and market orders were limited. The supply and demand gamed and the market acetic of anhydride was consolidated downward.
Market outlook
The acetic acid analyst from SunSirs believes that there have been changes in the acetic acid plant, but the overall supply of goods in the market was still sufficient, with active shipment by holders; Downstream buying potential was still acceptable, and they mainly followed up as needed. The trading atmosphere in the on-site market was relatively weak, and it is expected that the acetic acid market will tend to be stable in the short term. It’s needed to pay attention to the downstream follow-up situation in the future.
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