Acetic Acid Market Continues to Decline in China

October 28th News

According to the commodity market analysis system, as of October 28th, the average price of acetic acid in the Chinese market was 2,480 CNY/ton, a decrease of 120 CNY/ton from the price of 2,600 CNY/ton on October 21st, a price decrease of 4.62%. In the latter part of the month, the acetic acid market in China continued to decline. The capacity utilization rate of acetic acid slightly increased, leading to an increase in supply and inventory, which in turn increased the pressure on companies to sell. On the demand side, downstream buyers were cautious, purchasing only as needed, resulting in a general trading atmosphere. With the accumulation of inventory, the market sentiment turned bearish, and to promote sales, the transaction prices of acetic acid dropped again.

This week, the methanol raw material market showed a fluctuating downward trend. As of the 28th, the average price in the Chinese market was 2,205 CNY/ton, a decrease of 2.65% compared to the price of 2,265 CNY/ton on October 21st. Downstream demand has decreased, and the enthusiasm for entering the market to purchase is not high. Methanol enterprises have sufficient inventory, and the pressure on spot goods is significant, leading to a weak downward trend in the methanol market.

The downstream acetic anhydride market in China showed a weak downward trend. From October 21 to 28, the average ex-factory price of acetic anhydride fell from 4177.50 CNY/ton to 4107.50 CNY/ton, a decrease of 1.68%. The upstream acetic acid market continued to decline, leading to a weak sentiment in the acetic anhydride market. Downstream demand followed weakly, with limited market transactions. During this period, the price trend of acetic anhydride followed the downward adjustment of raw material prices.

Looking ahead, acetic acid analysts believe that Chinese acetic acid producers will continue to maintain active shipments, with downstream buyers primarily responding to immediate demand. However, market consumption remains insufficient, putting significant pressure on acetic acid companies to offload their inventories. Meanwhile, the market lacks positive catalysts, suggesting that acetic acid prices are likely to remain weak and consolidate in the near term. Moving forward, attention will be focused on how supply conditions evolve in the market.