Price Trend

According to the monitoring data of business associations, this week’s domestic acetic acid market shocks weakened, with a decline of 2.37% in the week. At present, the quotation in Henan is around 3150-3200/ton; in Shandong, it is about 3350-3500 yuan/ton; in Hebei, it is about 3500-3550 yuan/ton; in Shaanxi, it is about 3050 yuan/ton; in Jiangsu, it is about 3350-3450 yuan/ton; and in Jiangsu, it is about 3350-3450 yuan/ton. About RMB/ton; Zhejiang region quoted 3500-3600 RMB/ton; South China region sent about 3450-3500 RMB/ton.

II. Cause Analysis

Products: This week, the domestic acetic acid market is stable and soft, with the market starting rate as high as 95%. The spot supply in the industry has improved, but the overall situation is still slightly tight. Influenced by the larger supply gap in the earlier period, enterprises generally have low inventories. At present, most enterprises mainly carry out pre-order, and some enterprises in Shandong and Henan have reduced their prices by a large margin, so as to facilitate the development of acetic acid industry. Shipment. Affected by the National Day, North China is about to restrict transportation, and some industries are starting to work. The demand for acetic acid has just decreased. As there are more bad news in the market, downstream and traders are more wait-and-see attitude.

Industry chain: In the upstream, domestic methanol market is affected by the soaring crude oil and futures boost, with a sharp rise of 3.91% in the week and about 2180 yuan/ton at present. Domestic acetate and vinyl acetate industries are affected by the weakening of acetic acid market, with stable, moderate and soft operation in the week, light downstream buying gas and low PTA market reserve intention before the holidays. Influenced by the overhaul of enterprises, the demand has not yet fundamentally improved due to the shock operation within a week.

International: North American acetic acid market has been running steadily this week, with flat market turnover and weak buying gas, currently around 360 US dollars/ton; Asian acetic acid prices continue to fall due to poor demand, currently 435-475 US dollars/ton, with strong bearish sentiment in the future; European acetic acid market has been stable in supply and demand, and has been running steadily for a week, with current quotation of 650 Euros. About RMB/ton.

3. Future Market Forecast

Acetic acid analysts of business associations believe that the acetic acid market as a whole has started to reach a high level, the spot supply of the market has gradually increased, the downstream demand situation has not improved significantly, coupled with the near National Day holiday logistics transport constraints, enterprises have some difficulties in shipment, acetic acid downstream industry and traders have poor reserve intention, the industry is short. The mood is strong and the acetic acid market is expected to decline in a short time.