SunSirs: The Manufacturer's Inventory Was Not Under Pressure, and the Price of Acetic Acid Continued to Rise
November 27 2024 15:03:44 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 25th, the average price of acetic acid was 2,900 RMB/ton, an increase of 40 RMB/ton or 1.40% compared to the price of 2,860 RMB/ton on November 18th.
Analysis review
This week, the acetic acid market was running strongly, and enterprise quotations continued to rise. On the supply side, the acetic acid unit of the main factory in Shandong was shut down for maintenance, resulting in a decrease in market capacity utilization and no pressure on enterprise inventory, leading to a significant increase in quotations; On the downstream side, entry into the market was mainly based on demand, and market trading had improved. Industry players had a positive attitude, and acetic acid prices were relatively strong and upward.
The upstream methanol market first rose and then fell. From November 18th to 25th, the average domestic market price increased from 2,510 RMB/ton to 2,560 RMB/ton, with an overall increase of 1.99%. The continuous external procurement of some large-scale olefin plants downstream, coupled with low inventory of methanol enterprises and limited shipments by some production enterprises, had driven the continuous rise of methanol market prices in mainland China. Afterwards, downstream follow-up on high prices had slightly weakened, and market transactions were limited, resulting in a slight decrease in methanol prices.
The downstream acetic anhydride market was operating strongly. On November 25th, the average ex factory price of acetic anhydride was 5,020.00 RMB/ton, an increase of 0.96% compared to the price of 4,972.50 RMB/ton on November 18th. The upstream acetic acid market was running strongly, and the cost of acetic anhydride was favorable. However, downstream demand was weak, and market transactions were limited. The supply and demand gamed in the market, and the price of acetic anhydride slightly increased
Market outlook
The acetic acid analyst from SunSirs believes that the parking of acetic acid equipment in the market has reduced the supply of goods, and the mentality of holders of goods has increased; Downstream market entry followed up as needed, and the trading atmosphere in the on-site market was still acceptable. It is expected that the short-term acetic acid market will continue to be stronger, and attention will be paid to downstream follow-up in the future.
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