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Acetic acid: with resistance and support, the market adjustment before the festival is limited

Views: 0     Author: Site Editor     Publish Time: 2022-03-31      Origin: Site

After the sudden shutdown of two sets of acetic acid plants with a total of 1.2 million tons / year in Jiangsu Thorpe on March 16, the factory purchased a large amount of acetic acid in order to ensure the supply of contract users. Therefore, the inventory of acetic acid plants with high inventory pressure in the mainland in the early stage decreased rapidly, and the favorable support of supply in the market appeared.

In addition, Shanghai Huayi 2.5 million T / a acetic acid plant unexpectedly shut down on March 23, and Nanjing bp500000 T / a plant also shut down for maintenance on March 23, while Hebei Jiantao also limited delivery due to the later maintenance plan.

Driven by the sharp decline of domestic acetic acid operating rate and the sudden positive supply side, downstream users actively enter the market for procurement, while acetic acid factories are reluctant to sell in stock, which exacerbates the tight supply situation and promotes the rapid stop of the decline and rise of acetic acid prices. From March 21 to March 25, the price of acetic acid in Jiangsu increased by about 500 yuan / ton in five trading days.

However, the sales of PTA, acetate and chloroacetic acid products in the main downstream are not smooth, and the cost pressure is large, which makes it difficult to transfer the cost. According to statistics, at present, the operation rate of PTA is only a little more than 70%, while the operation rate of ethyl acetate and butyl acetate is only about 45% and 40%, both below the conventional level. In addition, the epidemic situation in some areas is serious, and raw materials cannot be transported to downstream factories, which also reduces the demand. Overall, the demand side support was weak. After entering this week, the overall atmosphere of acetic acid market fell significantly.

It is reported that the maintenance time of the main acetic acid plants in the North has been delayed, and the terminal consumption is depressed under the influence of the epidemic. It is difficult to improve the demand for basic chemicals. The mentality of the industry is more cautious. It is expected that the inventory of acetic acid will remain low under the background of recent commencement, but it is still expected that the overall acetic acid market will be maintained at a low level.

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