In October, the Chinese acetic acid market showed a weak downward trend

November 03, News

According to the commodity market analysis system, the price trend of acetic acid in October was initially stable and then declined. As of October 31, the price was 2,420 CNY/ton, a decrease of 220 CNY/ton compared to the beginning of the month when the price was 2,640 CNY/ton, representing a price decrease of 8.33%.

In October, the acetic acid price trend was weak and declining. In the first half of the month, acetic acid prices remained stable at a high level, with downstream restocking after the holiday. The capacity utilization rate in China slightly decreased, and market sentiment was positive, with acetic acid companies maintaining firm quotations. In the second half of the month, although the operating rates of the facilities continued to decrease, downstream demand weakened, and the market showed cautious buying sentiment. Trading was sluggish, leading to an accumulation of inventory. To maintain sales, acetic acid prices were continuously reduced.

The raw material methanol market has been operating with a weak fluctuation. As of October 31, the average price in the Chinese market was 2,155 CNY/ton, a decrease of 3.67% compared to the beginning of the month at 2,237 CNY/ton. The supply in the methanol port market is high, with significant inventory pressure, showing a generally weak fluctuation. The domestic market's supply and demand are weak, with poor sales from enterprises, and the weak market situation continues. The trend of the methanol market first rose and then fell.

Market Outlook: Analysts believe that the current market sentiment for acetic acid is bearish, with companies facing significant inventory pressure. Next month, fewer acetic acid units are scheduled for maintenance, meaning supply remains relatively strong. Meanwhile, demand continues to weaken across the board. However, operating rates may gradually improve in the coming period. As a result, the market is expected to remain weak and consolidate, with close attention needed on how downstream sectors respond.