According to the Commodity Market Analysis System of Shengyi Society, as of October 28th, the average market price of acetic acid was 2480 yuan/ton, a decrease of 120 yuan/ton or 4.62% compared to the price of 2600 yuan/ton on October 21st. The domestic acetic acid market continued to decline in the latter half of the year. The utilization rate of acetic acid production capacity has slightly increased, the inventory on the supply side has increased, the pressure on enterprise shipments has increased, and the downstream mentality of the demand side is more cautious. Purchasing in the market follows up on demand, and the market trading atmosphere is average. Enterprise inventory has accumulated, and the market sentiment is bearish. In order to promote shipments, the focus of acetic acid transactions has once again shifted downwards.
This week, the raw material methanol market fluctuated and fell. As of the 28th, the average price in the domestic market was 2205 yuan/ton, a decrease of 2.65% compared to the price of 2265 yuan/ton on October 21st. Downstream demand has decreased, and the enthusiasm for entering the market for procurement is not high. Methanol enterprises have sufficient inventory, and there is significant pressure on spot goods, resulting in a weak downward trend in the methanol market.
The downstream acetic anhydride market is weak and declining. From October 21st to 28th, the average ex factory price of acetic anhydride dropped from 4177.50 yuan/ton to 4107.50 yuan/ton, a decrease of 1.68%. The upstream acetic acid market continues to decline, and the mentality of the acetic anhydride market is weak. Downstream weakness follows demand, and market trading is limited. During the cycle, the price trend of acetic anhydride follows the downward trend of raw materials.
In terms of future market forecast, the acetic acid analyst from Shengyi Society believes that domestic acetic acid companies will maintain active shipments, with downstream companies mainly following up on essential needs. The market consumption is insufficient, and acetic acid companies face significant pressure to ship. There is a lack of favorable market conditions, and it is expected that the acetic acid market will continue to consolidate weakly in the later stage. The market supply situation will be closely monitored in the future.