There is currently no impressive performance on the demand side, and the market price of acetic anhydride is stable but rising
2023/11/29
Specifically:
Recently, there have been frequent malfunctions in the acetic acid plant, resulting in unstable overall market operations and tight spot supply. At the same time, the overall inventory of the acetic acid market remains low, and the downstream maintenance equipment for acetic acid has been restarted, leading to an increase in production. In addition, the addition of downstream factories in Anhui and Hainan has increased the purchase of acetic acid in the market. At the same time, acetic acid manufacturers were bearish on the market in the early stage, which increased their enthusiasm for exports. Coupled with an increase in foreign equipment maintenance, the export situation this month was good, and multiple favorable factors supported a continuous small push in acetic acid prices. The bottom support of the acetic anhydride market is gradually strengthening under this influence.
Some manufacturers experienced short shutdowns due to malfunctions in the early stages of production, and the overall supply of spot resources in the market is still available. Manufacturers have a large amount of inventory without pressure, and at present, most of their equipment is operating smoothly, with little change in the overall industry operation.
The overall consumption demand in the downstream market has not shown significant growth, and users are mostly following up on demand for purchases. There is a strong wait-and-see sentiment on the market, and the demand side provides moderate support for the acetic anhydride market.
The supply side equipment will continue to operate in a stable state, and the market's spot resources are relatively abundant, with no obvious gaps observed; However, the inventory of raw material acetic acid in the factory remains low, and coupled with the expected start-up of a new 50000 ton unit for n-propyl acetate in Anhui region, the demand for acetic acid is expected to remain stable, with a slight increase. At the end of the month, a new round of contract changes have supported the mentality of manufacturers. It is expected that the acetic acid market price will remain stable, with a slight push on the cost side, which will continue to provide impetus for the operation of the acetic anhydride market. However, there is currently no significant performance on the demand side, On exchange traders may continue to purchase on demand, but it is not ruled out that they may enter the market early due to fear of price increases. Therefore, it is expected that the market price of acetic anhydride will steadily rise tomorrow, with a range of 0-50 yuan/ton. The market is unpredictable and should be based on the actual supply and demand situation. In the future, we will continue to monitor changes in market fundamentals and market transactions, and follow up in real time.
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