Acetic acid: the market is steadily rising with the support of the supply side

Since May, Nanjing Ineos, Hebei Jiantao, Guangxi Huayi and other devices have been overhauled, and Yankuang and Celanese have been overhauled at the end of May, which has pushed the market higher. However, due to the weak demand support from East and South China and the low enthusiasm of downstream procurement, the overall rise was relatively low.

Hebei Jiantao acetic acid plant has been restarted at present, but the restart time of Nanjing Ineos has been postponed to the beginning of June. Shandong Yankuang stopped on May 25, and Shaanxi extended the fault shutdown on the evening of May 25. The restart time is to be determined; As of the 26th, the operating rate of the industry was about 76%, which was at a low level.

In terms of inventory, affected by the recent centralized maintenance of acetic acid plant, the supply has decreased, and the overall inventory of the society has continued to decrease. As of this week, the domestic social inventory has dropped to about 130000 tons, which is at the low level of this year.

Although the 500000 T / a acetic acid plant of Nanjing Ineos was planned to be restarted in early June, the 1.2 million T / a acetic acid plant in Celanese was shut down at the end of May. In the short term, the industrial operating rate is still low, and the inventory of major acetic acid plants remains tight, which still has strong support for the acetic acid market.

However, the counterattack of the epidemic has caused a certain negative impact on the real economy, and the overall weak growth of the demand in the downstream and terminal areas of domestic chemical products has intensified. It is reported that the parking of small and medium-sized enterprises such as printing and dyeing enterprises in the lower reaches of East and South China is common, and the sales of PTA and acetate are generally poor, which affects the enthusiasm of users for raw material procurement, and the demand side suppresses the upward trend of the market.

In terms of export, as the local acetic acid inventory in India is still high, the current price of acetic acid exported to India is inversely linked to the domestic price of acetic acid, so the export market is also average.

In the later stage, driven by the low supply to the market, the price of acetic acid still has a certain upward space. However, domestic and foreign demand support is weak, and suppliers are cautious in pushing up. It is expected that the market will rise steadily.