Market Forecasts of Glacial Acetic Acid July 3, 2020
According to market news, the driving time of the Nanjing Celanese was postponed to 10-15 days. Jiangsu Thorpe stopped unexpectedly this week and is expected to restart on the 9th. The operation of other domestic devices is stable. Due to the large production capacity of Thorpe and Celanese, and the limited inventory, there is not much supply in the short-term market, especially the tight supply situation in East China will continue.
The operating rate of acetic acid remained at a low level in June. Although devices such as Henan and Shanghai were restarted in the latter half of the year, downstream users were short-selling and maintained low inventory. In addition, Thorpe stopped unexpectedly, the buyer's enthusiasm for purchasing increased, and the overall low inventory of the society remained.
The tight inventory situation of acetic acid factories will continue, which is the main factor currently dominating the market price. It is expected that domestic acetic acid prices will still have room to rise next week.