Asian Acetic Anhydride Price Trend Witnesses a Downturn in the first week of January 2024
The Asian price trends of acetic anhydride have shown a decline after a slight fluctuation in the first week of January 2024. As was evident in China, the prices have been fluctuating, exhibiting a downward trend, for the last few months. The decline in the prices of acetic anhydride has been seen due to the oscillating rates of its feedstocks in the global market over the past few months, and the dip continued in the first week of January 2024.
December 2023 Downswing in the Acetic Anhydride Price Trend
The Asian market has been witnessing unstable rates of acetic anhydride since December 2023. The prices in the Chinese market have ranged approximately around 6000- 5800 RMB/ton during the period between December 2023 to the first week of January 2024. The market has been impacted due to the unstable rates of acetic acid in the global commodity market as well. The prices of acetic acid remained low till the end of December, witnessing low production supply and bad climatic support. Additionally, the challenges faced in transportation and distribution units due to the bad climate conditions in Northern China have impacted the commodity supply.
Amid the fluctuating and falling prices of acetic acid, prices of methanol have remained stable. However, the downward pressure on the acetic anhydride market has increased. The Asian market has been facing insufficient feedstock supply issues, due to which the production of acetic anhydride has been affected. The low-end supply and average purchasing enthusiasm from the downstream customers is altogether impacting the prices of acetic anhydride.
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According to the Procurement Resource, the market trends for acetic anhydride have been declining after marking a temporary stability. The major reasons were the insufficient raw material supply, including declining rates of methanol and acetic acid in the Asian market. The overall demand for acetic anhydride has remained stable due to an average demand from the downstream customers. However, the upward momentum in the price trend for acetic anhydride is weakened, impacting the downstream pressure. Hence, the market for acetic anhydride has declined.
