June 25th, news:
According to SpotCom data, as of June 25, the average market price of acetic acid in China was 3056.67 CNY/ton, an increase of 36.67 CNY/ton compared to the price of 3020 CNY/ton on June 18, a price increase of 1.21%.
Recently, the acetic acid market in China has shown a slight upward trend. The price of methanol, a raw material, has fallen, loosening the cost of acetic acid and putting some pressure on its market performance. On the supply side, the facility utilization rate for acetic acid is not high, and with the execution of long-term orders at the end of the month, the overall inventory pressure is not significant, leading to a mainly firm market sentiment. Trading in the end market is limited, with downstream buyers purchasing according to their needs. The fundamental supply and demand dynamics have led to a small increase in the price of acetic acid during the week.
Recently, the methanol raw material market has shown a weak downward trend. As of June 25th, the average price in the Chinese market was 2,713 CNY/ton, a decrease of 6.96% compared to the price of 2,916 CNY/ton on June 18th. The expectation for the methanol port market is for an increase, but the sentiment among traders is weak, and the price level has shifted downward. The demand for methanol in China has entered the traditional low season, and the enthusiasm for purchasing is not high. The trading atmosphere in the market is poor, and many companies are offering discounts to sell, resulting in a significant drop in methanol prices during the week.
Downstream acetic anhydride market is in a weak consolidation. From June 18 to 25, the average ex-factory price of acetic anhydride in China fell from 5330 CNY/ton to 5312.50 CNY/ton, a decrease of 0.33%. The supply side of acetic anhydride production is stable, and the market's spot supply has increased. On the demand side, downstream follow-up is insufficient, and trading performance within the market is mediocre. The fundamental situation is one of oversupply, leading to a poor sentiment among industry players, and as a result, the price of acetic anhydride was slightly reduced during the week.
Looking ahead, acetic acid analysts believe that with current low operating rates for acetic acid production and scheduled maintenance at some enterprises in July, market sentiment remains positive. However, downstream product prices are relatively weak, and demand support is only moderate, limiting the upside potential for acetic acid prices. It is expected that acetic acid prices will remain in a wait-and-see consolidation phase in the short term, with close attention paid to market supply and downstream demand trends.
