August 31 news
According to Spotcom data, as of August 31, the average market price of acetic acid in China was 3,310 CNY per ton, compared to 3,170 CNY per ton on August 24, a decrease of 140 CNY per ton, or a price decrease of 4.42%.
Recently, the Chinese acetic acid market has shown a strong upward trend. The high and fluctuating price of methanol, a raw material, has strengthened the cost support for acetic acid, increasing the driving force for the rise in acetic acid prices. In terms of supply, the current inventory of acetic acid enterprises is low, leading to a tight market supply, with a strong intention to maintain prices. Additionally, the delay in plant maintenance for acetic acid enterprises in Henan Province further benefits manufacturers' optimistic outlook. On the demand side, the domestic market is mainly driven by essential needs, while the export market is performing strongly, providing overall good support for acetic acid. Under the influence of multiple positive factors, the price level of acetic acid has moved upwards.
Recently, the methanol raw material market has been fluctuating upwards. As of August 31, the average price in the Chinese market was 3,096 CNY per ton, an increase of 3.79% compared to the price of 2,983 CNY per ton on August 24. With concentrated maintenance of methanol facilities, the domestic spot supply has decreased, and at the same time, the volume of imports arriving in the market is not high, leading to overall tight inventory. Under these dual drivers, methanol prices have been running strong.
The downstream acetic anhydride market is experiencing a strong upward trend. From August 24 to 31, the average ex-factory price of acetic anhydride fell from 5,395 CNY/ton to 5,565 CNY/ton, representing a price increase of 3.15%. News of plant maintenance at acetic anhydride facilities in Shandong Province has been released, leading to expectations of reduced market supply. Meanwhile, the price of raw material acetic acid has risen, further driving up the price of acetic anhydride. Downstream demand remains stable, and market conditions are generally favorable, prompting continuous price hikes for acetic anhydride throughout the week.
For the future market forecast, currently, acetic acid enterprises in China have low inventory levels, and there is a strong intention to maintain prices. The downstream export market is improving, which continues to support acetic acid prices. With the approaching traditional peak season, it is expected that acetic acid prices will remain high in the short term. Specific attention should be paid to market supply and downstream demand conditions.
