In late August, the acetone market entered a deep decline mode. According to the analysis system of Business Society, the national acetone market has been trading at an average price of 6800 yuan/ton since August 16th, falling to 6435 yuan/ton on August 27th, a decrease of 5.37%. Looking at the acetone market in East China, it has been trading at an average price of 6650 yuan/ton since August 16th, falling to 6250 yuan/ton on August 27th, a decrease of 6.02%. During this period, lower prices still entered the market.
In terms of supply, the inventory at Jiangyin Port reached 35000 tons in the latter half of the year, the highest level since the beginning of the year. There will continue to be imports and domestic trade shipments arriving to replenish the inventory. It is understood that the import sources are mainly from South Korea, Saudi Arabia, and Thailand, and it is not ruled out that the high level at the end of the month will continue.
As Shenghong Refining and Wanhua Chemical plants resume operations, the operating rate of domestic phenol ketone plants continues to remain around 80%. It is reported that the operating rate at the end of the month has further increased, and the operating rate in September may approach 90%. From this, it can be seen that the acetone production in August was 270000 tons, and the acetone production in September increased to 300000 tons. The supply has been consistently high recently.
From a cost perspective, pure benzene has fallen due to weakened support from the cost side, slow inventory digestion, significant accumulation of inventory, significant resistance to shipment from petrochemical enterprises, and pressure to digest contract sources. Under multiple pressures, traders have had to lower their prices to ship.
The acetone offers in major mainstream markets across the country on August 27th are as follows:
Region/ Quotation/ Price range (8.16-27)
East China region/ 6250./ -400
Shandong region/ 6400./ -350
Yanshan region/ 7450./ -400
South China region/ 7550./ -400
From the demand side, the top two downstream industries have relatively stable production, with bisphenol A production at 60% and acetone cyanohydrin MMA production at 50%. The overall production of bisphenol A and MMA downstream is stable, with limited export orders for isopropanol and domestic facilities maintaining a level close to 50%.
With the wide decline of the acetone market, the end of the month is approaching. The operating rate of phenol ketone factories remains high, and the import contract goods are arriving at the port normally, with sufficient supply. Traders still have shipment pressure; From the demand side, solvent terminal factories have seen an increase in demand for acetone as the weather cools down. Currently, acetone has bottomed out, making it a good time for the demand side to restock. In September, there will be a demand for stocking during the Double Festival holiday, and Business Society expects that trading will improve in the later period.
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