In May, the acetic acid market showed signs of high stability. At present, the mainstream price in the East China market is between RMB 3,200 and RMB 3,400 (t price, the same below). The mainstream offer price in the South China market is between RMB 3,300 and RMB 3,400. The mainstream offer price in the North China market is between RMB 2,900 and RMB 3,050. The strong external disk and insufficient domestic demand are reflected in the domestic market and are reflected in the regional differences between the East China, South China and North China markets. Since March, the frequent overhaul of acetic acid plants abroad has attracted the attention of the industry. Celanese's annual production capacity of 600,000 tons of glacial acetic acid plant in Singapore was stopped in mid-March, and the restart time was unknown. South Korea’s BP annual production capacity of 600,000 tons was reduced to half-load operation in April; Malaysia’s BP acetic acid plant was shut down in early May , India GNFC annual production of 170,000 tons of glacial acetic acid plant plans to stop maintenance in mid-May. Affected by this, from April to May, the output of acetic acid from the Southeast Asian market decreased, and China's acetic acid spot cargo supply was tight. The international price of acetic acid rose rapidly under the influence of the overhaul of the device and the impossibility of the circulation of Iranian supplies. On May 4th, international acetic acid was stable at 525-535 U.S. dollars except in the United States, and it rose in other regions. It increased by 15 U.S. dollars in Asia, 534 to 536 U.S. dollars (CFR) in the Far East, and 554 to 556 U.S. dollars in Southeast Asia (CFR). South Asia offers a range of 574 to 576 U.S. dollars (CFR), and Northwest Europe offers a range of 490 to 500 U.S. dollars (FD). Last week, the price of acetic acid in China increased by 32.50 US dollars to 490 US dollars (FOB), the lack of spot cargo supply. Due to the strong demand in the European market, sellers have shipped cargoes ranging from 510 to 530 US dollars at the end of May or early June (FOB China). At present, the price of acetic acid has risen to a relatively high level, but downstream acetate is weaker than acetic acid. According to May 11th: The ethyl acetate plant has a low load and the demand for raw materials is limited. Some parts of the ethyl acetate plant in East China were shut down for maintenance. The overall load was low, and there was no intention of shipping at a low price. The mainstream price was 6500 to 6650 yuan. The market supply of ethyl acetate in South China was relatively stable, and the low-end quotation declined slightly. The market sentiment was flat and the price did not change much. The quotation held steady at 6550-6700 yuan. The market of butyl acetate is stable, and the stock of suppliers is not high. The market price of butyl acetate in east China remains stable. The quoted price of mainstream cans is between RMB 9,200 and RMB 9,400. The main butyl acetate plant in South China is underemployed and the high-end price falls. The mainstream factory prices In 9400 ~ 9500 yuan; North China butyl acetate supply is relatively stable, manufacturers supply stock is not high, shipping is normal, quotes remain stable, the mainstream quoted at 9250 ~ 9350 yuan. Looking at the market outlook, the ethyl acetate plant as a whole was underemployed, and the dullness of the transaction restricted the rise in prices. Butyl acetate was affected by the weak downstream demand. The end-users' purchasing attitude was cautious and the transaction volume stagnated. Acetate prices are expected to remain positive in the short term, but the medium-term trend will continue to be dominated by shocks. In April, the acetic acid continued to rise sharply. As of the end of April, the average price of the factory was 3287.5 yuan, and the monthly increase was 12.88%. Both the North and East China market prices rose by 10%. Since the second quarter, the price of acetic acid has rapidly risen under the influence of inspections by domestic manufacturers. The ex-factory price of acetic acid has reached 3,300 yuan, with a monthly increase of 12% and an increase of 8% from the beginning of the year. Right now, the operating load of domestic installations has also declined significantly, and the supply in the spot market is expected to decrease. Most manufacturers have already raised factory prices. According to the market dynamics on May 11, Hua Lu Hengsheng device is still in the parking lot and is about to restart. The quotation sent to the surrounding area is stable at 3,300 yuan; Thorpe, as a major domestic supplier, has not restarted after the overhaul of the device at the end of April. Temporarily stabilized at around 3300 yuan; Shanghai Wusong Acetic acid 2# device will be overhauled for two weeks at the end of the month, and the quotation is stable at 3,200-3,300 yuan. In view of the overall market for acetic acid, due to the shutdown and maintenance of Jiangsu Thorpe plant, the low output of Shanghai Wusong, and the tight supply of Celanese and BP, the supply of acetic acid was recently tight in East China and South China. Companies have raised their acetic acid prices, and the price of acetic acid is higher than that at the end of April. Rose 100 yuan. In North China, due to the still weak demand, the pressure on the company's inventory is relatively high, and the price of acetic acid maintains consolidation. The prices of acetic acid producers and market prices continued to rise, and market demand remained at the previous stage, and there was limited room for overall market changes. At present, the supply in East China and South China is tight and the inventory in North China is relatively high. The situation of partial imbalance between supply and demand is being adjusted, and the market has entered a buffer consolidation phase.
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