On February 2, the acetic acid market in South China experienced a decline, with ex-factory prices quoted at approximately 2,640 yuan/ton for self-pickup, down by 25 yuan/ton. The operating rate of acetic acid production increased, leading to a rise in market supply. Enterprises showed strong intentions to offload inventory, while downstream buyers made purchases based on demand, resulting in a subdued trading atmosphere. The acetic acid market trended weakly downward. PriceSeek analysis of acetic acid, with a long-short score of -1, indicates that the market is declining, with ex-factory prices dropping by 25 yuan/ton to around 2,640 yuan/ton. The increase in operating rates has led to a rise in market supply, and enterprises are eager to sell. However, downstream buyers are only purchasing as needed, creating a weak trading atmosphere and an overall downward trend in the market. This suggests an oversupply of acetic acid in the spot market coupled with weak demand, exerting significant downward pressure on prices and negatively impacting the spot market for acetic acid.
Comments
0