According to the Commodity Market Analysis System of Shengyi Society, the price of acetic acid continued to decline in early July. As of the 9th, the average market price of acetic acid was 2430 yuan/ton, a decrease of 2.41% from the beginning of the month price of 2490 yuan/ton. The domestic acetic acid market has fallen, mainly due to the increase in supply of acetic acid and insufficient demand follow-up, resulting in the accumulation of enterprise inventory, bearish market sentiment, and a downward shift in acetic acid prices. However, downstream stocking intentions are not high, and market transactions remain flat. Under the supply-demand game, the price center of acetic acid continues to decline.
The upstream methanol market continued to decline in early July. As of the 7th, the average price in the domestic market was 2390 yuan/ton, a decrease of 5.53% from the beginning of the month price of 2530 yuan/ton. The downstream market for methanol is weak, with average demand performance. In terms of external markets, the delivery of methanol in mainstream ports has ended, weakening support for the spot market. There is a lack of favorable conditions in the market, leading to a weak downward trend in the methanol market.
Market forecast: The acetic acid analyst from Shengyi Society believes that the domestic acetic acid production capacity utilization rate will remain high, and there will be significant inventory pressure on enterprises. Downstream companies will mainly adopt a wait-and-see approach, and the trading atmosphere in the market is average. The market situation is that supply exceeds demand, and it is expected that the acetic acid market will operate weakly in the short term. In the future, attention will be paid to downstream follow-up.