According to the Commodity Market Analysis System of Shengyi Society, as of April 22, the average market price of acetic acid was 3966.67 yuan/ton, a decrease of 783.33 yuan/ton or 16.49% compared to the price of 4750.00 yuan/ton on April 11.
Recently (4.11-4.22), domestic acetic acid prices have experienced a wide decline. Raw material methanol oscillates during operation, with average cost support; On the supply side, as the price of acetic acid rises to a high level, downstream resistance to high priced sources of goods gradually arises, and the market trading atmosphere weakens, leading to inventory accumulation among holders; The weak demand in the terminal market and the continuous decline in downstream prices in the industrial chain have suppressed the acetic acid market, and the market dominance has also reversed towards the demand side. Driven by negative factors, the center of gravity of acetic acid prices continues to shift downwards.
Recently, the raw material methanol market has been fluctuating. As of April 22, the average price in the domestic market was 3256 yuan/ton, a decrease of 1.33% compared to the price of 3300 yuan/ton on April 11. Affected by geopolitical conflicts, methanol import supply is tight, and futures market prices are high, supporting the strong performance of the spot market. However, downstream resistance to high prices has increased, and pre holiday stocking demand is weak. Some holders have shifted their focus of negotiations to promote shipments, resulting in a decrease in methanol prices and weakened cost support for acetic acid.
The downstream acetic anhydride market weakened and decreased, with the average ex factory price of acetic anhydride dropping from 7225 yuan/ton to 6100 yuan/ton from April 11th to 22nd, a decrease of 15.57%. There has been little change in the production of acetic anhydride on the supply side, with enterprises mainly following the market trend. Downstream enthusiasm for high priced purchases is average, and the price of acetic anhydride on the raw material side has fallen. Cost support has weakened, and market sentiment is bearish, resulting in a continuous decline in acetic anhydride prices.
Market forecast: Acetic acid analysts believe that currently, acetic acid companies have sufficient inventory, obvious pre holiday inventory intentions, weak downstream product market conditions, low market entry enthusiasm, insufficient support for acetic acid, and weak market fundamentals. It is expected that the acetic acid market will consolidate and operate weakly in the short term, and the market supply situation will be closely monitored in the future.
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