1、 Price trend

According to the monitoring of the bulk data of the business agency, the domestic acetic acid market fell by about 2.72% this week before the continuation of the previous trend, and the current quotation in Henan is about 2150 yuan / ton; the quotation in Shandong is about 2250-2400 yuan / ton; the quotation in Hebei is about 2400-2450 yuan / ton; the quotation in Shaanxi is about 2050 yuan / ton; the quotation in Jiangsu is about 2300-2350 yuan / ton; the quotation in Zhejiang is about 2450-25 yuan / ton About 50 yuan / ton; about 2450-2500 yuan / ton for delivery in South China.

2、 Cause analysis

Product: this week, domestic acetic acid still continued its weak operation in the early stage. Due to the high level of inventory in the industry, some enterprises bid for shipment, resulting in the continuous decline of acetic acid price, and the market is in a bad mood. However, with the acetic acid production enterprises successively entering the maintenance state, this situation is expected to turn around.

Industry chain: in the upstream, the trend of domestic methanol market is narrow and low, and some enterprises have adjusted their prices for many times, but the reduction is not large. At present, about 1980 yuan / ton; domestic acetate, vinyl acetate, acetic anhydride and other industries are in a weak and stable operation, with high shipping intention, slow recovery of demand in the terminal market, and short mentality; PTA market demand is gradually rising, and the supply and demand will be improved in the later stage, Short term PTA is improved or continues to rebound due to cost and demand.

International: the price of acetic acid in the North American market fell this week, currently at about $765 / T; the demand in the Asian acetic acid market was weak, with the price at about $275-340 / T; the supply and demand in the European acetic acid market was stable, and the current quotation was about 600 euro / T.

3、 Future forecast

According to the acetic acid analyst of business association, at present, the acetic acid production enterprises have successively issued maintenance plans or have entered the maintenance period, among which Jiangsu Thorpe 800000 T / a plant was overhauled on March 6, Yankuang 1.1 million T / a plant and Celanese 1.2 million T / a plant were overhauled around mid March, Tianjin Bohai Chemical Industry Co., Ltd. reduced 50% of the load, Huayi Group overhauled in mid April, Henan Longyu short-term shutdown was recovering, and the enterprise was in overall operation The working rate will drop sharply, and the market speculation atmosphere is strong, but the current market inventory is still high, most of the enterprises are long-term and consumption inventory, the downstream demand recovers slowly, and the actual demand is still weak. It is expected that the acetic acid market will operate stably in a short time. In the long run, after the downstream production resumes in April, the acetic acid price will recover.