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Chinese acetic acid market weekly price update

02
Nov '09
Domestic market in China has shown steady trend in this week. Downstream sentiment had not shown much expectation at the start but there was some change in the attitude as weekend approached.

After opening on Monday, market was quite weak and low price offers from traders were heard and some scheduled maintenance and low run rate helped to stabilize the prices.

East China market prices ruled at between 2700 – 2850 RMB/ton in the week. North China market moved bit upward at the weekend. In the beginning of the week prices stood at 2700 – 2800 RMB / ton at the start of the week and the week closed at 2750 – 2800 RMB/ton.

South China market prices for the week were 2900 – 3050 RMB/ ton and purchases had been done only by small buyers. Export offer prices were 550 – 630 US$ / ton FOB Chinese main port. Bulk deals lead to lower price offers.

As methanol prices remain stable, it is expected that acetic acid market will show stable adjustment in coming weeks and the prices will show fluctuation in limited range.

Fibre2fashion News Desk - India


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