According to the Commodity Market Analysis System of Business Society, the price of acetic acid has significantly declined this week. As of June 28th, the average market price of acetic acid was 3080 yuan/ton, a decrease of 150 yuan/ton compared to June 24th price of 3230 yuan/ton, and an overall decrease of 4.64%.
This week, the price of acetic acid continued to decline, mainly due to strong supply and weak demand, and the bearish mentality of manufacturers, resulting in a continuous decline in acetic acid prices. On the supply side, with the restoration of maintenance equipment and an increase in market supply, enterprises have a clear intention to discharge inventory, and the acetic acid market is operating weakly; On the demand side, downstream performance continues to be sluggish, and the market trading atmosphere is light. On exchange transactions are flat, and the market atmosphere is bearish. Under the supply-demand game, the price of acetic acid has declined during the week.
As of June 28th, the market prices of acetic acid in various regions are as follows:
Region/ June 24th/ June 28th/ Rise and fall
South China region/ 3125 yuan/ton/ 3100 yuan/ton/ -25
North China region/ 3200 yuan/ton/ 3100 yuan/ton/ -100
Shandong region/ 3230 yuan/ton/ 3080 yuan/ton/ -150
Jiangsu region/ 3050 yuan/ton/ 2955 yuan/ton/ -95
Zhejiang region/ 3150 yuan/ton/ 3055 yuan/ton/ -95
The upstream raw material methanol market is operating with a strong trend. As of June 28th, the average price in the domestic market was 2554.17 yuan/ton, an increase of 2.78% compared to the price of 2485.00 yuan/ton on June 24th. The overall supply of methanol in the market is sufficient, with downstream on-demand procurement being the main focus. The receiving sentiment is weak, and market trading is poor. The futures market closed higher this week, driving up the consolidation of methanol spot prices.
The downstream acetic anhydride market is weak and declining. On June 28th, the factory price of acetic anhydride was 5447.50 yuan/ton, a decrease of 0.55% compared to the price of 5477.50 yuan/ton on June 24th. The upstream acetic acid market is weak and declining, with a bearish cost outlook for acetic anhydride. At the same time, the acetic anhydride market has sufficient supply, downstream purchases on demand, and limited on exchange trading. The upstream market has driven the consolidation and downward trend of acetic anhydride prices.
In the future market forecast, the acetic acid analyst from Business Society believes that the main acetic acid factories on the market are currently operating normally, with high capacity utilization, sufficient market supply, and limited downstream demand. Follow up on demand when entering the market, and there is a clear trend of oversupply on the market. At the same time, the confidence of suppliers is insufficient, and the acetic acid quotation continues to decline. It is expected that the short-term acetic acid market will continue to be weak and consolidate, and prices may fluctuate slightly. In the future, attention will be paid to downstream follow-up.
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