As of August 31st, the average market price of acetic acid was 3310 yuan/ton, a decrease of 140 yuan/ton or an increase of 4.42% compared to the price of 3170 yuan/ton on August 24th.
Recently, the domestic acetic acid market has seen a strong upward trend. The high volatility of raw material methanol prices and the strengthening of cost support for acetic acid have increased the driving force for the acetic acid market to rise; In terms of supply, currently the inventory of acetic acid enterprises is low, the market supply is tight, and there is a strong intention to raise prices on site. At the same time, the maintenance of acetic acid enterprises in Henan Province has been delayed, which is favorable for the continued bullish attitude of manufacturers; On the demand side, domestic downstream demand is dominant, and the export market is performing well. The overall downstream support for acetic acid is good. With multiple favorable factors, the price center of acetic acid is rising at a high level.
Recently, the raw material methanol market has fluctuated upwards. As of August 31st, the average price in the domestic market was 3096 yuan/ton, an increase of 3.79% compared to the price of 2983 yuan/ton on August 24th. Under the dual driving force of centralized maintenance of methanol plants, reduced domestic spot supply, and low import market arrivals, the overall market inventory is tight, resulting in strong methanol prices.
The downstream acetic anhydride market has risen strongly, with the average ex factory price of acetic anhydride dropping from 5395 yuan/ton to 5565 yuan/ton from August 24th to 31st, an increase of 3.15%. The news of maintenance of acetic anhydride plants in Shandong region has been released, and market supply expectations have decreased. The price of raw material acetic acid has risen, driving up the price of acetic anhydride. Downstream demand is stable, and the market is relatively strong. Acetic anhydride prices have been continuously raised during the week.
Market forecast: Currently, the inventory of acetic acid enterprises is not high, and industry players have a strong intention to raise prices. The downstream export market is improving, which still supports the price of acetic acid. In the upcoming traditional peak season, it is expected that the price of acetic acid will remain high in the short term. Specific attention should be paid to market supply and downstream follow-up.