According to the monitoring data of business associations, the domestic acetic acid market fell sharply this week by 4.83%. At present, the quotation in Henan is around 3050-3100/ton; Shandong is about 3200-3350 yuan/ton; Hebei is about 3350-3450 yuan/ton; Shaanxi is about 2950 yuan/ton; Jiangsu is about 3200-3300 yuan/ton; Zhejiang is about 3350-3450 yuan/ton. Around 3,400-3,500 yuan per ton in South China.
|PVA 0599 (PVA BF05)|
II. Cause Analysis
Products: Domestic acetic acid continued to weaken this week, the industry started at a high level, the overall starting rate maintained at about 90%, affected by the poor delivery of National Day, enterprises in order to alleviate warehouse pressure and yield more profits to ship, but the downstream market started flat, cautious buying, more wait-and-see attitude, in this state, further stimulate acetic acid enterprises to reduce the quotation to ease the pressure of competition in the industry.
Industry chain: upstream, domestic methanol enterprises have low inventories, downstream market replenishment is active, enterprise shipments are not pressurized, rising by 3.29% in a week, currently about 2,386 yuan/ton; domestic acetate and vinyl acetate industries are more stable in a week, acetic acid prices fall, resulting in inadequate cost support and poor downstream demand, PTA market is expected to remain soft in the short run; The downstream demand is limited, and the recent centralized overhaul of enterprises has led to a reduction in spot supply, which to some extent alleviates the downstream space.
International: This week, the supply of acetic acid in North America will be reduced due to Celanese parking, and it will run at a high level within a week. At present, it is about 610 US dollars/ton; the overall market of acetic acid in Asia is flat and the price is stable, currently 435-465 US dollars/ton; and the supply of acetic acid in Europe will be somewhat tight, with a slight increase in the week, and the current quotation is about 660 Euro/ton.
3. Future Market Forecast
Acetic acid analysts of business associations believe that the acetic acid market continues to weaken. Although Tianjin Bohua and Jiangsu Thorpe have reduced their negative operation, the overall spot supply of the market is abundant and the downstream market is just in poor demand. Competitive pressures of enterprises around the world have increased and they have yielded profits to ship. Although the raw material methanol market remains high, it has no significant positive support for acetic acid prices; the downstream market and export performance are low. There is no sign of warming up in the short term. It is expected that the domestic acetic acid market will remain weak in a short time.