In the first half of the year, the trend of the acetic acid market was just the opposite of that of the same period last year, showing a high before and a low after, with an overall decline of 32.96%. The dominant factor driving the acetic acid market down was the mismatch between supply and demand. After the addition of new production capacity, the overall supply of acetic acid market increased, but the downstream demand was always too flat to be effectively digested.

The acetic acid market as a whole showed three fluctuations in the first half of the year, with the average market price going down to RMB 4,150 from RMB 6,190 (tonne price, same below) at the beginning of the year. Among them, the maximum price difference reached 2,352.5 yuan from the highest point of 6,190 yuan at the beginning of the year to the lowest point of 3,837.5 yuan in late June.

The first fluctuation was from the beginning of the year to the beginning of March, with an overall drop of 32.44%. The average price of acetic acid market started to go down from a high of RMB 6,190 and fell all the way to a low of RMB 4,182 at this stage on March 8. During this period, the overall start-up rate of the acetic acid industry remained high, but the downstream started poorly due to the Spring Festival holiday and other impacts, and the market continued to fall in a downward trend against the background of supply-demand mismatch.

The second fluctuation was from early March to the end of April, showing a rise and then a fall, with an overall slight increase of 1.87%. The average price of acetic acid market first rose from a low point to a high of 5,270 yuan on April 6, an increase of 26.01%. After hovering for two days, it suddenly turned downward until it fell to the lowest point of 4,260 yuan on April 27. In the early part of the period, acetic acid maintenance enterprises increased, supply continued to decline, coupled with the export pull, the acetic acid market entered the upward channel. However, with the intensification of the domestic epidemic in the first half of April, some regional logistics were affected and the demand side continued to be sluggish, highlighting the contradiction between supply and demand in the market, which led to this round of upward movement without success.

The third fluctuation from the end of April until the end of June, is also the first up and then down trend, the overall decline of 2.58%. The average price of acetic acid market from the previous low once climbed to a stage high of 5640 yuan on June 6, an increase of 32.39%. After that, the price again pulled back sharply until June 22, when it fell to a low of 3,837.5 yuan in the first half of the year, followed by a slight recovery to end at 4,150 yuan. In May, the epidemic was basically under effective control and the market gradually recovered, while a number of foreign installations unexpectedly stopped, the acetic acid market continued to rise and gradually stabilized in mid-to-late May, with the downstream also maintaining just-as-needed procurement. The overall average price of acetic acid market dropped significantly.

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