Chinese Acetic acid market stabilized this week with minute fluctuations in its derivative market

In China, the prices of Acetic acid rolled over to $930/ton FOB Qingdao and $895/ton Spot Ex-Qingdao. Feedstock Methanol prices in China was surged to $425/ton FOB Qingdao with week-on-week inclination of 0.94% where the last week prices of Methanol were $421/ton FOB Qingdao.

The domestic acidic acid market is on wait and-see activity, the enterprises, stock is rational, the downstream market simply needs to purchase, the on-location exchanging is steady, the organization's shipments are smooth, the company's is steady during the week, the homegrown acidic acid endeavors are not operating high, and the market interest essentially keep an equilibrium, and the insiders take a wait and see mentality.

On the downstream side, the Ethyl Acetate market previously rose and afterward fell for the current week. the cost of Ethyl Acetate in East China was $1390/ton, which was equivalent to last end of the week's cost. During the week, the cost of Ethyl Acetate didn't change a lot. The prices of the main bidding industrial facilities settled, the exchange volume expanded, the trading environment was great, and the market was running smoothly. The downstream MTBE and Acetic Anhydride market was operated stably, and the consumer’s purchasing activities are for need to basis. The inventories in the enterprises are heard to start accommodating and creating pressure on the industries.

According to ChemAnalyst, the prices of Acetic acid will surge in the upcoming weeks also affecting its derivative market. The trading activities will recover after the Winter Olympics increasing the prices in the domestic market. Crude and Natural Gas prices are also expected to increase affecting the Petrochemical market of China. The exports to India and South Korea is also expected to increase with robust demand in its downstream market.