Glacial acetic acid: demand warming, late price all the way bullish

Acetic acid price trend in China

After a continuous decline of more than 2000 CNY/ton in October, the market price of glacial acetic acid gradually returned to rationality and started a new round of rising trend in early November. However, the overall rise was relatively slow, but the continuous trend was strong. The main good news came from the recovery of demand in the downstream industry, giving a positive boost to the market and driving the market higher one after another.

From mid-October, the start of PTA, butyl acetate and ethyl acetate industries showed an obvious rising trend. The start of PTA industry was 70.97% in mid-October, and the operating rate was 82% by early November, up 15.54%. The ethyl acetate industry started 39% in early October and 51% in early November, up 30.77%;

The butylacetate industry started 24% in early October and 38% in early November, up 58.33%. In November, anhui and Zhejiang were gradually released from power restrictions, and chloroacetic acid, acetic anhydride, vinyl acetate and other industries were expected to grow in the later stage of construction, which was supported by relatively strong market demand.

Acetic acid utilization rate trend in China

Acetic acid industry factory recently started remains high, the market supply source is relatively abundant, but the second half of Chinese exports glacial acetic acid, reduce domestic spot circulation, conveniently maintain acetate manufacturer inventory quantity is low position, under domestic demand growth in succession, acetate manufacturer conveniently push up the offer, drive the market clinch a deal the price are higher.

 Jiangsu Thorpe 1.2 million tons/year acetic acid plant is expected to stop in the middle of November for a month, although there is advance stock, but there is still a partial boost to the market mentality, acetic acid market is still biased to the seller's market, Lonzhong Information is expected to short-term market demand and supply side positive, the market trend still has room to rise.