China's Acetic Acid Market Continues to Rise

March 24 news

According to the commodity market analysis system, as of March 24, the average market price of acetic acid in China was 3,443.33 CNY/ton, an increase of 350 CNY/ton compared to the price of 3,093.33 CNY/ton on March 16, representing a price increase of 11.31%.

Recently (March 16-24), the price of acetic acid in China has continued to rise. In terms of supply, some acetic acid production facilities are not operating at full capacity, leading to a generally low overall operating rate in the market. Major manufacturers have been shipping smoothly, with relatively low inventory levels, and there is a strong sentiment for pushing up prices. On the demand side, downstream products such as ethyl acetate, butyl acetate, and acetic anhydride have shown robust performance, providing strong support to the acetic acid market. Additionally, with high methanol prices, the cost pressure on acetic acid has increased. Under the influence of multiple factors, acetic acid prices have continued to rise, and the market has been operating strongly.

Recently, the raw material methanol market has been consolidating at a high level. As of March 24, the average price in the Chinese market was 3,170 CNY per ton, an increase of 11.62% compared to the price of 2,840 CNY per ton on March 16. Affected by geopolitical factors, methanol imports have tightened, and the futures market has shown a strong trend, driving up the spot market. Downstream methanol demand is following as needed, and inventory holders are optimistic, keeping methanol prices firm. The cost end is putting significant pressure on acetic acid.

Downstream acetic anhydride prices have continued to rise, with the average factory price increasing from 4,832.50 CNY/ton on March 16 to 5,512.50 CNY/ton on March 24, a price increase of 14.07%. The supply of acetic anhydride remains stable, but downstream buyers are cautious about purchasing at high prices and are mainly buying based on demand. The continuous rise in the price of raw material acetic acid has provided strong cost support, driving the sustained increase in acetic anhydride prices.

For the future market forecast, acetic acid analysts believe that the favorable factors in China's acetic acid market are relatively strong, and the sentiment of industry players is optimistic. It is expected that the price trend will continue to be strong. While maintaining high prices, there may be resistance from downstream, leading to some fluctuations in demand. It is predicted that the acetic acid market will remain at a high level in the short term, with attention to the supply situation in the market.