1.Price Trend

According to the monitoring data of business associations, the domestic acetic acid market as a whole fell sharply this week, with the average price of acetic acid in eastern China dropping to about 3,283 yuan/ton at the beginning of the week and 3,100 yuan/ton at the end of the week, a decline of 5.58%. At present, the quotation in Henan is about 2800-2850/ton; in Shandong is about 2950-3150 yuan/ton; in Hebei is about 3150-3200 yuan/ton; in Shaanxi is about 2700 yuan/ton; in Jiangsu is about 2950-3050 yuan/ton; in Zhejiang is about 3100-3250 yuan/ton; in South China, the quotation is about 3200-3300 yuan/ton, which is 32.12% lower than that in the same period last year.

2. Cause Analysis

Products: Affected by the downstream market demand of acetate and vinyl acetate, the domestic acetic acid market continued to decline, and enterprises delivered more profits. Due to the strong performance of the upstream methanol market and other factors such as pre-stocking, the acetic acid market gradually stabilized over the weekend; the 1.2 million tons/year plant of Nanjing Celanese has not been fully restored, and the 500,000 tons/year plant of Nanjing Yangtze is still under repair. The internal start-up rate fell last week, with the overall stock of about 80%.

Industry chain: In the upstream, methanol market is tidying up at a high level, with good turnover in Northwest China and strong market; goods in Bohai Rim and Central China are still moving well and rising steadily; trade in Huaihai is turning better and rising slightly; futures are tidying up, and the port market is going up accordingly, with methanol prices rising by 3.97% in a week, and the current price of methanol is about 2306 yuan/ton, down by 33.7% compared with the same period last year; vinegar this week. The overall performance of the acid downstream industry is sluggish, and the demand for acetic acid is not good. Traders are cautious in purchasing and take a wait-and-see attitude.

International: This week, the North American acetic acid market quoted a steady price of 640 US dollars per ton; Asian acetic acid market affected by the downturn in demand, continued to fall within a week, the current quotation is 380-445 US dollars per ton; European acetic acid market prices stabilized in the week around 780 Euro/ton.

3. Future Market Forecast

At present, as the 1.2 million ton/year Celanese plant is about to restart, the supply of the industry will gradually increase, but the downstream market performance continues to be weak, and near the end of recent years, the intention of enterprises to drain warehouses is high, and there is no good support at the export side.