According to the Commodity Market Analysis System of Shengyishe, the price of acetic acid fluctuated weakly in May. As of May 31st, the price was 3150 yuan/ton, a decrease of 100 yuan/ton compared to the beginning of the month’s acetic acid price of 3250 yuan/ton, with an overall decline of 3.08%.
As of the end of the month, the price details of acetic acid market in various regions of China in May are as follows:
Region/ May 6th/ May 16th/ May 31st
South China region/ 3125 yuan/ton/ 3275 yuan/ton/ 3125 yuan/ton
North China region/ 3110 yuan/ton/ 3300 yuan/ton/ 3150 yuan/ton
Shandong region/ 3200 yuan/ton/ 3350 yuan/ton/ 3150 yuan/ton
Jiangsu region/ 3050 yuan/ton/ 3200 yuan/ton/ 3075 yuan/ton
Zhejiang region/ 3150 yuan/ton/ 3300 yuan/ton/ 3175 yuan/ton
The acetic acid market fluctuated in May. In the first half of the year, the price of acetic acid showed a strong upward trend. With the return of the May Day holiday, downstream demand for on-demand replenishment increased, and the trading atmosphere on the market improved. In addition, due to the failure of the Tianjin Alkali Plant equipment to reduce losses, enterprises had a strong intention to raise prices, and market trading continued to rise; In late May, the price of acetic acid weakened and declined, mainly due to downstream resistance to high priced sources, resulting in a weak trading atmosphere in the market. At the same time, as the acetic acid plant resumed its initial load, manufacturers showed an increased willingness to ship. In order to promote transactions, the focus of acetic acid trading has shifted downwards; At the end of the month, some facilities in East China were shut down, and the company’s quotation slightly increased.
The methanol market on the raw material side first rose and then fell. As of May 31st, the average price in the domestic market was 2761 yuan/ton, an overall increase of 4.15% compared to the price of 2651 yuan/ton on May 1st. In the first half of the year, some methanol plants in the main production areas were repaired as scheduled, and some plants unexpectedly shut down, resulting in a tight overall supply, driving the domestic market to rise and operate. At the same time, the unstable situation abroad has affected the arrival volume of methanol at ports, resulting in relatively low inventory levels in ports and the mainland. In the face of tight supply, the methanol market has risen significantly; In the latter half of the month, port supply gradually resumed, and the equipment in the northwest production area gradually resumed. The overall gas buying in the methanol market was average, and the domestic methanol market fell from a high level; As the end of the month approaches, the market supply increases, and downstream purchasing sentiment is weak, resulting in a continued weak consolidation of the methanol market.
The downstream acetic anhydride market fluctuated and declined in May, with a price of 5437.50 yuan/ton as of May 31st, a decrease of 3.33% compared to the price of 5625.00 yuan/ton at the beginning of the month. In mid to early May, the upstream acetic acid price increased slightly, and the cost support for acetic anhydride was positive. The demand for acetic anhydride remained stable, and the price of acetic anhydride rose accordingly; In the latter half of the year, the price of acetic anhydride declined weakly, with upstream acetic acid falling and cost support weakened. The acetic anhydride market was clearly bearish, and the price trend declined.
According to analysts from Business Society, the current operation of acetic acid enterprises is stable, with sufficient market supply and no pressure on inventory. Shipping is the main focus, and downstream buyers are not very enthusiastic about purchasing goods. They follow up on demand when entering the market, and market trading is limited. In the short term, the acetic acid market is observing and consolidating, with narrow price fluctuations. In the future, specific attention will be paid to downstream restocking situations.
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