Good news from suppliers, acetic acid market continues to rise

As of February 21, the average price of acetic acid increased by 50 yuan/ton compared with the price of acetic acid on February 15, an increase of 1.77%, and decreased by 2.37% from the beginning of the month.

The acetic acid market continued to be strong this week, and the company’s quotations continued to rise. On the supply side, domestic acetic acid companies planned maintenance, and the on-site capacity utilization rate declined. At the beginning of the week, the acetic acid company’s quotations rose sharply. At the same time, downstream factories started production, demand performance was acceptable, market transactions were active, and company shipments were good. Supported by the supply side during the week, acetic acid quotations continued to rise.

The upstream methanol market fluctuated. From February 15 to 21, the capacity utilization rate of methanol plants remained high during the week. Although downstream external procurement boosted the domestic market, most of the purchases were rational, and the overall domestic market was weak and volatile.

The downstream acetic anhydride market has slightly increased, and the average ex-factory price of acetic anhydride on February 21 increased by 0.49% compared with the price on February 15. The upstream acetic acid market continued to rise, the cost of acetic anhydride was favorable, the quotations of enterprises rose sharply, and the demand side mostly followed up on demand, and the price of acetic anhydride rose slightly during the week.

At present, the utilization rate of acetic acid production capacity is not high, and the supplier mentality is firm. Next week, domestic maintenance equipment may resume normal operation, the market supply will increase, the downstream will actively follow up, and the supply and demand in the market will be relatively balanced. It is expected that the acetic acid market will consolidate in a narrow range in the later period and stabilize overall. In the future, attention will be paid to the follow-up of the downstream.