August 31 news
According to SpotCom data, the price trend of acetic acid in August first decreased and then increased. As of August 31, the average market price was 3,310.00 CNY/ton, an increase of 86.67 CNY/ton compared to the price at the beginning of the month, which was 3,223.33 CNY/ton, with a monthly price increase of 2.69%.
At the beginning of the month, the market was affected by weak demand, leading to sluggish downstream follow-up and hindering enterprises’ shipments. In some regions, inventories began to accumulate, causing acetic acid prices to decline somewhat. In the mid-to-late part of the month, due to concentrated maintenance shutdowns at acetic acid plants, supply tightened, and enterprises’ willingness to raise prices increased. Coupled with strong export demand and rising prices of the raw material methanol, acetic acid prices continued to climb, resulting in a significant upward trend overall.
The methanol market experienced a strong upward trend in August. As of August 31, the average market price reached 3,096 CNY per ton, representing a price increase of 17.81% compared to the beginning-of-month price of 2,628 CNY per ton. Influenced by geopolitical tensions, expectations of reduced methanol imports provided strong support for port prices, contributing to a generally bullish market sentiment. During the month, Chinese production facilities underwent concentrated maintenance, tightening domestic supply and boosting manufacturers’ confidence, thereby driving prices steadily higher. Supported by low inventory levels, methanol prices remained at elevated levels. Moreover, the feedstock methanol provided robust support for acetic acid, with clear cost-side benefits.
Outlook: With low inventory levels among acetic acid companies in China, the market supply is expected to remain tight in the short term. Downstream demand is following as needed, and with the expectation of the traditional peak season, there are more favorable fundamentals. It is projected that the acetic acid market in China will continue to perform strongly in September. Particular attention should be paid to the restart of facilities and the downstream follow-up situation.
