1.Analysis of upstream acetic acid market trend

The average price of acetic acid at the beginning of the month was 3235.00 yuan/ton, and the price at the end of the month was 3230.00 yuan/ton, an increase of 1.62%, and the price was 63.91% lower than last year.

In September, the acetic acid market was dominated by a wide range of oscillations, with prices falling before rising. In the first half of the year, the acetic acid market was in consolidation, with sufficient supply, limited downstream demand, weak market supply and demand, acetic acid prices fluctuated; in the second half of the year, the acetic acid market was weak and downward, mainly because the acetic acid maintenance enterprises resumed normal operation, the market supply was sufficient, the downstream purchase continued to be weak, the supply was strong and weak, acetic acid prices continued to go down; at the end of the month, the National Day holiday was approaching, the downstream demand for stocking increased, and the enterprises had a strong intention to raise prices. At the end of the month, the offer went up, followed by the upstream methanol price increase, raw material support is good, the end of the month acetic acid prices rose to near the beginning of the month.

2. ethyl acetate market trend analysis

In September, domestic ethyl acetate is still weak, the market is still in the process of bottoming out. According to Business News Service statistics, the decline this month was 0.43%, and near the end of the month, the market price of ethyl acetate was 6700-7000 yuan/ton.

This month, the cost side of ethyl acetate is not much good, acetic acid most of the month oscillating downward, the last week of September rebounded, leading to a short period of ethyl acetate up, the end of the month can not be sustained, prices still have not returned to the beginning of the level. There was little change on the supply side, most of the plants in East China were running normally, and the enterprises’ shipment strength did not usher in the peak season of “Golden Nine”, and the inventory remained high. The overall change in the bidding price of large plants in Shandong is not significant. The downstream weakness of the market is difficult to improve, and the procurement remains stable just demand.

3.butyl acetate market trend analysis

Domestic butyl acetate continued to dip in September, and the market was still weak. According to Business Newswire, the monthly decline of butyl acetate was 2.37%. At the end of the month, the domestic butyl acetate price range was 7,200-7,500 yuan/ton.

On the one hand, the cost side diverged, although acetic acid rebounded at the end of the month, but still difficult to drive the downstream butyl acetate out of the gloom, another upstream product n-butanol shock down, down 2.91% in the month. Overall, the cost side is still dominated by the short side. The long-term gloomy price of butyl acetate mainly comes from the pressure of supply and demand: the start-up situation of the device, butyl enterprises start-up rate changes little, the start-up rate of large plants to maintain the upper and lower 40%, but the inventory pressure of large plants is obvious, under the influence of weak demand, market transactions are not good. The terminal maintains just demand, and the overall trading atmosphere is light.

4.Analysis of the acetic acid industry chain

From the comparison chart of the rise and fall of the acetic acid industry chain, we can see that the industry chain shows a trend of cold at the top and hot at the bottom, with methanol (19.17%) at the source end rising sharply, putting heavy pressure on acetic acid and the downstream. In particular, downstream ethyl ester and butyl ester are still not free from the negative market. The inverse profit of enterprises during the month also kept the start-up rate at a low level, with negative liquidation mainly.

In the short term, the acetic acid industry chain will maintain weak finishing, acetic acid manufacturers may accumulate stocks during the holiday season, but downstream stocks of ethyl acetate, butyl acetate and PTA continue to be consumed during the festival, and the market replenishment after the festival will bring benefits to acetic acid. However, considering the little improvement in end demand. Ethyl ester and butyl ester prices may remain weak.

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