According to the monitoring of SunSirs, the trend of acetic acid fell first and then rose in August, and the price fell as a whole. The average price of acetic acid at the beginning of the month was 3,512.50 RMB/ton, and the price at the end of the month was 3,187.50 RMB/ton. During the month, it was lowered by 325.00 RMB/ton, a decrease of 9.25%, and the price was decreased by 47.40% year-on-year.
In August, the acetic acid market continued to decline, and the price continued to decline during the month. The market continued to be weak, mainly due to the continued sluggish downstream demand. The lack of demand during the month was a factor that ran through the entire market. The trading in the market was general, mainly based on rigid demand, while the supply side of the market was relatively abundant, and the company's shipments were not good, resulting in increased inventory pressure. In order to maintain the rhythm of shipments, manufacturers continued to sell at a profit-cutting, and the quotations were lowered. The mentality of the industry was cautious and wait-and-see, coupled with the influence of buying up and not buying down, the acetic acid market was running weakly.
The price of downstream EA continued to fluctuate and fell in August, and the quotation at the end of the month was 7,200-7,400 RMB/ton, a decrease of 4.76%. Downstream demand was sluggish and purchasing enthusiasm was weak, resulting in relatively high EA inventory. However, in terms of construction, the average operating rate of EA in July was lower than 40%, and the manufacturers were more optimistic about the price, so the decline was slower than that of acetic acid. Due to weak demand and insufficient support, the market continued to be weak.
The analysts of SunSirs believe that the domestic acetic acid market is relatively abundant, the downstream demand continues to be weak, and the trading atmosphere on the market is light. As the price of acetic acid has fallen to the vicinity of the cost line, the industry's mentality is temporarily stable and wait-and-see, and the decline of acetic acid has slowed down. It is expected that the acetic acid market will consolidate in the short term, and pay attention to the downstream follow-up.