The acetone market continued to decline in August, reaching a new low for the year. According to the analysis system of Business Society, the average daily price of acetone in the national market has dropped from 6975 yuan/ton on August 1st to 6362.5 yuan/ton on August 31st, a decrease of 8.78%, compared to 7062 yuan/ton at the beginning of the year, a decrease of 9.91%. From the perspective of the acetone market in East China, the price of 6750 yuan/ton quoted on August 1st fell to 6150 yuan/ton quoted on August 31st, a decrease of 8.89%. Throughout the year to present, the domestic acetone market has shown a trend of first rising and then falling.
From a supply perspective, the inventory at Jiangyin Port has remained at 25000 to 35000 tons, reaching a high level since the beginning of the year. There will continue to be imports and domestic trade shipments arriving to replenish the inventory. It is understood that the import sources are mainly from South Korea, Saudi Arabia, and Thailand, and it is not ruled out that the high level at the end of the month will continue.
From a cost perspective, pure benzene showed a significant decline at the beginning of the month due to weakened support from the cost side, slow inventory digestion, obvious accumulation of inventory, significant resistance to shipment from petrochemical enterprises, and pressure to digest contract sources. Under multiple pressures, traders had to lower prices to ship.
From the demand side, the top two downstream industries have relatively stable production, with bisphenol A production at 60% and acetone cyanohydrin MMA production at 50%. The overall production of bisphenol A and MMA downstream is stable, with limited export orders for isopropanol and domestic facilities maintaining a level close to 50%.
After a wide decline in the acetone market, the operating rate of phenol ketone factories remained high at the end of the month, and the import contract goods arrived at the port normally, with sufficient supply. Traders still have shipment pressure; From the demand side, solvent terminal factories have seen an increase in demand for acetone as the weather cools down. Currently, acetone has bottomed out, making it a good time for the demand side to restock. In September, there will be a demand for stocking during the Double Festival holiday, and Business Society expects that trading will improve in the later period.
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