Glacial acetic acid
Looking at it today, the industry as a whole is not low, there is no good news on the demand side, and the cost pressure of production companies has increased in recent days. It is expected that the glacial acetic acid market will be weak today.
Citric acid
The price of citric acid rose rapidly in a short period of time in early February, and the citric acid market completely got rid of the decline in the second half of the year, and the price of citric acid rose again and again. On February 2, Shandong Ensign Industry took the lead in raising the ex-factory quotation, and other companies followed suit. The industry has a strong bullish atmosphere, and the enthusiasm of downstream and traders to purchase goods has increased significantly, further supporting the upward price of citric acid. In the second ten days of February, traders and the downstream basically finished hoarding goods, the market trading activity decreased, and the acceptance of another price increase by upstream manufacturers was low, and they mainly waited and watched.
In terms of supply, citric acid manufacturers have normal production and stable supply. In February, with the increase in demand brought about by rising prices, traders took more goods, manufacturers released inventory pressure, received orders in limited quantities, and arranged orders for production. Industry inventories are transferred from manufacturers to traders. The overall operating rate of the industry remains at a medium-to-high level.
In terms of demand, February is the traditional peak season for citric acid exports, and the export demand is relatively good. In terms of domestic demand, rising prices have led to an increase in demand.
On the whole, in February, the citric acid market went up as a whole. Although the goods from the downstream are generally available, the industry inventories are mostly concentrated in traders. However, the pressure on upstream enterprises has eased. Under this momentum, upstream enterprises have a positive attitude and a strong intention to raise prices. It is expected that the price of citric acid will remain firm in March, and it is easy to rise but hard to fall.
Post time: Feb-24-2023