According to the Commodity Market Analysis System of Shengyi Society, the price of acetic acid continued to rise in March. As of March 31, the average market price was 4140.00 yuan/ton, an increase of 1343.33 yuan/ton compared to the beginning of the month’s acetic acid price of 2796.67 yuan/ton, with a monthly increase of 48.03%.
The acetic acid market rose strongly in March, and the price of acetic acid continued to rise. Due to the impact of geopolitical conflicts, the price of raw material methanol has been running at a high level, and the cost side has provided strong support for the price of acetic acid, leading to a significant increase in the acetic acid market; The operating load of some acetic acid plants on the supply side is not full, the operating rate of acetic acid is not high, the inventory of enterprises is relatively low, and manufacturers have a strong intention to increase prices; On the downstream side, the prices of products such as acetic anhydride and ethyl acetate continue to rise, and the demand side has strong support for acetic acid. Under the influence of multiple favorable factors, the price of acetic acid rose strongly within the month.
The downstream acetic anhydride market is operating strongly, with the average ex factory price of acetic anhydride rising from 4540.00 yuan/ton to 6162.50 yuan/ton from March 1st to 31st, an increase of 35.74%. The production of acetic anhydride on the supply side is stable, and there is not much inventory pressure on the enterprise. Downstream follow-up is mainly based on demand. The price trend of raw material acetic acid is strong, and cost support is favorable. Acetic anhydride is affected by upstream factors and operates at a high price, resulting in a strong upward adjustment of acetic anhydride prices within the month.
The raw material methanol market rose strongly in March. As of March 31st, the average market price was 3356.67 yuan/ton, an increase of 52.58% compared to the beginning of the month price of 2200.00 yuan/ton. Affected by geopolitical conflicts, methanol imports have shrunk, and methanol prices in the port market have risen, driving up spot market prices. At the same time, some methanol companies continue to reduce inventory, local olefin external procurement demand and downstream demand are gradually recovering, which supports the strong rise in methanol prices.
Market forecast: Business analysts believe that the current operating rate of acetic acid plants is not high, and enterprise inventory is relatively low. Some plants are expected to undergo maintenance in April, and the supply side will continue to be tight. The downstream market is strong, and demand support is strong. It is expected that the short-term acetic acid market will continue to rise, and specific attention will be paid to changes in market supply and demand.
| http://www.pva-china.net |