In February 2026, the acetone market showed an overall downward trend, with prices slightly falling compared to the beginning of the month. The core reason was that the market was in a state of loose supply and demand due to abundant supply and demand recovery, and prices showed a characteristic of “high-level decline and narrow adjustment at the end of the month”. In February, acetone prices continued their downward trend from their high in January, with a moderate downward trend and small regional differences. According to data from Shengyi Society, the benchmark price of acetone on February 27th was 4605.00 yuan/ton, a decrease of 2.02% from the beginning of the month (4700.00 yuan/ton). Currently, it is at a mid to low level in the past year, only higher than the annual minimum value of 4047.50 yuan/ton and 557.5 yuan/ton.
Supply side: Increased operating rate and continuous accumulation of inventory
In February, the domestic acetone supply side showed a pattern of “rising operating rates and increasing inventory”, which was the main driving force behind the market downturn. As of February 24th, the inventory of acetone in domestic ports was 51500 tons, an increase of 10000 tons from February 13th, which is at a reasonable above average level. The operating rate of domestic phenol ketone factories is 88.64%, an increase of 2.61% compared to last week. With reduced equipment maintenance and sufficient capacity release, coupled with the expected increase in production capacity in 2026, the pattern of oversupply has not changed. The arrival of ship cargo in the later stage will further increase inventory and strengthen the situation of abundant supply.
Demand side: Downstream resumption of work lags behind, procurement demand is flat
The slower than expected recovery in demand is another core factor contributing to the market downturn. The Spring Festival holiday in February caused a delay in downstream resumption of work, with procurement mainly focused on essential needs, making it difficult to digest sufficient supply. In the main downstream, the operating rates of bisphenol A, MMA, and isopropanol have all declined, while MIBK’s operating rates remain unchanged without any increase; Solvent factories will basically shut down during the Spring Festival, further weakening demand support.
Limited cost support and flat market sentiment
On the cost side, this month’s strong pure benzene has provided some support for acetone, easing the downward trend but not changing the trend; The high-level transmission of crude oil is limited, coupled with oversupply, and cost support is weakened. In terms of market sentiment, the basic chemical sector where acetone is located is differentiated, with industry players mainly adopting a wait-and-see approach and weak willingness to actively purchase, which is driving down prices.
Short term stable fluctuations, medium to long term pressure still exists
The decline in the acetone market in February was the result of a combination of abundant supply and weak demand. The current loose supply and demand pattern remains unchanged, with short-term price fluctuations and medium to long-term pressure. In the short term, the resumption of downstream work and production will drive a slow rebound in demand, but supply remains abundant. It is expected that acetone spot prices will show weak fluctuations in March, with mainstream prices in East China ranging from 4500 to 4700 yuan/ton.
| http://www.polyvinylalcohols.com |