According to the Commodity Market Analysis System of Shengyi Society, the price of acetic acid continued to decline in October, with a price of 2900 yuan/ton as of October 30th. Compared with the acetic acid price of 3250 yuan/ton at the beginning of the month, the price has decreased by 350 yuan/ton, a decrease of 10.77% during the month.

As of the end of the month, the market price details of acetic acid in various regions of China in October are as follows:

Region/ On October 8th/ On October 18th/ October 30th

South China region/ 3100 yuan/ton/ 2875 yuan/ton/ 2825 yuan/ton

North China region/ 3150 yuan/ton/ 2875 yuan/ton/ 2825 yuan/ton

Shandong region/ 3150 yuan/ton/ 2950 yuan/ton/ 2800 yuan/ton

Jiangsu region/ 2875 yuan/ton/ 2750 yuan/ton/ 2700 yuan/ton

Zhejiang region/ 2975 yuan/ton/ 2850 yuan/ton/ 2800 yuan/ton

The acetic acid market experienced a weak decline in October. In terms of supply, the acetic acid plant on site is operating normally, and the market supply is stable. However, downstream buyers are generally enthusiastic about entering the market, and the inquiry atmosphere is sluggish during the month. Market transactions are limited, and manufacturers’ shipments are hindered, leading to increased inventory pressure. In order to promote transactions, the focus of acetic acid trading has shifted downwards. However, downstream demand is weak, and there is a lack of favorable supply side factors, resulting in a continuous decline in the acetic acid market.

The methanol market on the raw material side is weak and volatile. As of October 30th, the average price in the domestic market was 2440.00 yuan/ton, a decrease of 5.33% compared to the beginning of the month price of 2577.50 yuan/ton. Returning from vacation, some downstream restocking has led to an increase in methanol prices; From the 9th to the middle of the month, fundamentals weakened, on-site supply increased, downstream demand did not follow smoothly, and methanol prices continued to fall; After the price fell to a low level, downstream gas buying improved, and then methanol prices rebounded accordingly; By the end of the month, due to the continuous increase in market supply and the availability of warehouses at ports, as well as the decline in futures prices, the methanol spot market had weakened and declined.

Market forecast: Business analysts believe that the current bearish atmosphere in the acetic acid market is evident, downstream demand is insufficient, market trading atmosphere is light, supply side acetic acid inventory is sufficient, shipments are poor, downstream mentality on the demand side is sluggish, on-site supply is strong and demand is weak. It is expected that acetic acid prices will continue to be weak in the future, and specific attention will be paid to downstream replenishment situation.