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Acetic Acid Market to Upswing in Early June

Acetic Acid Market to Upswing in Early June

Acetic Acid Market to Upswing in Early June

  • 06-Jun-2022 2:03 PM
  • Journalist: Li Hua

Shandong, China: Acetic Acid prices have recently been rising in the Chinese domestic market, and it is expected to rise for at least a couple of weeks in June. The downstream demand for Acetic Acid from end-user industries is mostly limited; the Acetic Acid market runs on on-demand purchases. Furthermore, the trading scenario is primarily tender. The feedstock Methanol prices in the current week have been stable. Then, what is the reason behind this consistent price surge in Acetic Acid? ChemAnalyst Researchers have been talking to manufacturers from different regions of China to answer this question.

A manufacturer from Shandong confirmed that the Acetic Acid Manufacturing plants are in their shut down phase for maintenance which would continue for approximately a month. This statement made by the manufacturer implies that production is halted due to the plant shutdown, and supply has been tightened. Hence, due to supply rate inconsistency, the price of Acetic Acid has been increasing in the regional market of China.

A Shaanxi manufacturer quoted, “The Acetic Acid plant stumbled due to Air separation, due to which the processing system got entirely shut, and the recovery time is yet tough to predict. The inventory level has depleted, and the supply has been hampered.” Again, in Shaanxi, the supply has been the leading factor causing the price hike of Acetic Acid. Likewise, Jiangsu manufacturers and traders have revealed that the Acetic Acid plant has been overhauled and will probably restart its processes in late June. These statements only indicate that the currently restricted supply has been driving the Acetic Acid prices high.

As per ChemAnalyst anticipations, “The Chinese market would witness the Acetic Acid price soar for few more weeks from now onwards. The Acetic Acid market would be easing at the end of this month only after the Acetic Acid plants complete their shutdown, and the recovery of supply rate happens in the country.”

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