Skyrocketing! Printing and dyeing auxiliaries are booming, with some acetic acid quotations exceeding 6000 yuan/ton!
Skyrocketing! Printing and dyeing auxiliaries are booming, with some acetic acid quotations exceeding 6000 yuan/ton!
We have learned that since the end of April, domestic acetic acid has started a new round of upward market, and prices have risen in a straight line (as shown in the figure below). Taking Jiangsu market as an example, the local acetic acid price has risen by 5,000 yuan/ton in the past 20 days, an increase of 11%. As of mid-May, the local mainstream talks were over 5,000 yuan per ton, and the last time the local price appeared was in mid-April 2011.
According to Cai Nianyong of Zhongshan Heli Textile Material Technology Co., Ltd. and Mr. Li Xingzhu of Shangshan Chemical Industry Co., Ltd., the price of acetic acid in Guangdong market has exceeded 6000 yuan/ton so far.
1. The large supply gap is an important driver of the current market.
Since April, the planned overhaul of domestic acetic acid plants has been concentrated (as shown in the table below), and the short-term shutdown of acetic acid plants such as Jiantao in Hebei Province has occurred during the period. According to Zhongyu information statistics, the output losses caused by overhaul in April and the first half of May are close to 120,000 tons.
But at the same time, because the above overhauls are mostly planned overhauls and the factory has enough stock, the domestic acetic acid supply has not appeared a gap in mid-early April, although the industry has significantly reduced. The strong export is the key factor that causes the supply tension in the domestic market.
2. Downstream products keep up with rising prices of raw materials
In the month from mid-April to now, the price of downstream acetic acid products is mostly rising trend, and the main reason for the price increase is the impact of higher costs. Except for butyl acetate, the other downstream increases are relatively small.
3. Most downstream products have poor profitability compared with the profit of acetic acid factories as high as 2000 yuan/ton. Most downstream products are not profitable. Except for the profits of ethyl acetate and sec-butyl acetate, other products are basically sold at the cost edge, while long-term losses such as butyl acetate and chloroacetic acid, acetic anhydride also fail to keep pace with each other. Rising raw material profits have been sharply reduced.