Sinochem Xinwang.com reporter learned from the industry yesterday that Celanese, the world's largest acetic acid producer, accidentally parked its acetic acid plant in Nanjing recently, causing the domestic acetic acid market to fall into a tight supply and demand situation, bringing a shock to the entire industry. According to data provided by the chemical information service provider Business Club, the market price of acetic acid rose sharply by RMB 200/ton on Monday and Tuesday, and it rose by 6.3% in two days.
As the world's leading acetic acid supplier, Celanese's Nanjing plant has a total production capacity of 1.2 million tons/year of acetic acid. The parking capacity involved is approximately 600,000 tons, accounting for approximately 12% of the country's total production capacity. After this part of the production capacity was shut down, the supply to some customers was drastically reduced, leading to a general increase in the acetic acid market price.
The data shows that on March 8th only, the market price in East China increased by 50-100 yuan/ton to 3250-3450 yuan/ton, and that in North China rose by 100 yuan/ton to 3250-3350 yuan/ton. In the gap, the holding traders kept their attitude of reluctant sellers. Since February, domestic prices of acetic acid have risen more than 18%.
In fact, the transnational acetic acid giant has started to increase the price of acetic acid a week ago. For example, Celanese announced that it will raise the price of acetic acid products produced by the company globally since March 1. The domestic acetic acid company also drastically increased the price of the acetic acid plant in Nanjing. Such as Hua Lu Hengsheng and Jiangsu Thorpe Group, etc., raised their ex-factory prices by 200-300 yuan/ton on two consecutive days this Monday and Tuesday.
“Currently, the industry’s mentality on parking facilities in Nanjing is mixed. Most of the sellers continue to wait for sales to increase. Among the buyers, there are those who are resistant to high prices, there are wait-and-see operators, and there is a guarantee for normal production. Buyers," said one industry source.
According to him, due to the fact that the market can supply an extra large number of sellers, the mainstream downstream plant users tend to rely on stocks on the premise that both parties are cautious. At present, buyers and sellers are still playing games, and the atmosphere is more stalemate.
Analysts believe that the suspension of production by Nanjing enterprises will not be a shock to the entire acetic acid industry. Accelerated by cost pressures, acetic acid producers will also substantially increase their prices in the near future. Due to the low inventory of traders, there is a reluctant seller, and as the downstream demand gradually picks up, the acetic acid market will be expected to continue its upward trend.
As the world's leading acetic acid supplier, Celanese's Nanjing plant has a total production capacity of 1.2 million tons/year of acetic acid. The parking capacity involved is approximately 600,000 tons, accounting for approximately 12% of the country's total production capacity. After this part of the production capacity was shut down, the supply to some customers was drastically reduced, leading to a general increase in the acetic acid market price.
The data shows that on March 8th only, the market price in East China increased by 50-100 yuan/ton to 3250-3450 yuan/ton, and that in North China rose by 100 yuan/ton to 3250-3350 yuan/ton. In the gap, the holding traders kept their attitude of reluctant sellers. Since February, domestic prices of acetic acid have risen more than 18%.
In fact, the transnational acetic acid giant has started to increase the price of acetic acid a week ago. For example, Celanese announced that it will raise the price of acetic acid products produced by the company globally since March 1. The domestic acetic acid company also drastically increased the price of the acetic acid plant in Nanjing. Such as Hua Lu Hengsheng and Jiangsu Thorpe Group, etc., raised their ex-factory prices by 200-300 yuan/ton on two consecutive days this Monday and Tuesday.
“Currently, the industry’s mentality on parking facilities in Nanjing is mixed. Most of the sellers continue to wait for sales to increase. Among the buyers, there are those who are resistant to high prices, there are wait-and-see operators, and there is a guarantee for normal production. Buyers," said one industry source.
According to him, due to the fact that the market can supply an extra large number of sellers, the mainstream downstream plant users tend to rely on stocks on the premise that both parties are cautious. At present, buyers and sellers are still playing games, and the atmosphere is more stalemate.
Analysts believe that the suspension of production by Nanjing enterprises will not be a shock to the entire acetic acid industry. Accelerated by cost pressures, acetic acid producers will also substantially increase their prices in the near future. Due to the low inventory of traders, there is a reluctant seller, and as the downstream demand gradually picks up, the acetic acid market will be expected to continue its upward trend.