Glacial acetic acid industry weekly report

Glacial acetic acid
This week, the market price of glacial acetic acid has been running low. Although the inventory of enterprises has declined, the shipping sentiment among regions is different.
During this week, the Northwest region was affected by the low supply of the device, and the downstream just needed to purchase, and the overall shipping sentiment was good. In Hebei and Shandong regions, the supply in the region was high, and the downstream purchasing enthusiasm was poor, so the factory price fell. The factory inventory in East China and Central China is relatively high, and the downstream mainly executes long-term contracts, and the enthusiasm for zero-order purchases is general. In addition to long-term contracts, the market trading atmosphere in South China is general.
At present, Shanghai Huayi’s new device has been put into production, and the overall market supply is running at a high level. It is also necessary to pay attention to subsequent inventory changes and downstream purchasing mentality.

Demand analysis
Main downstream capacity utilization
The main downstream capacity utilization of glacial acetic acid rose across the board during the week. There were no new changes in PTA domestic plants this week. Due to the restart of the plant last weekend, domestic production increased slightly in this cycle.
The ethyl acetate Jingmen Qianxin plant increased its load, and the Jin Yimeng and Lier'an plants were shut down. The capacity utilization rate of ethyl acetate continued to rise this week.
The output of butyl acetate Jingmen Qianxin has been gradually increased, and the capacity utilization rate of butyl acetate has risen widely this week.

Inventory analysis
As of July 14, 2025, the inventory of glacial acetic acid production enterprises was 198,400 tons, a decrease of 1,800 tons from the previous period, a decrease of 0.9%.
In this period, the inventory of glacial acetic acid has been running down slightly. The northwest region was affected by the failure of Sinopec Great Wall unit, which extended the smooth shipment and the inventory was running down sharply. The inventory of enterprises in North China, Shandong and other regions has been running down slightly. Some factories in the coastal areas of East China have shipped, and the inventory of enterprises has been slightly higher. The factories in other regions have been shipping normally, and the inventory has been running down slightly. Longzhong Information predicts that the inventory of glacial acetic acid may continue to decline slightly in the next period.

Key downstream
Ethyl acetate
This week, the transaction prices of ethyl acetate market fell across the board. The lowest price in the East China market during the week was 5,100 yuan/ton ex-factory, and the highest price was 5,160 yuan/ton ex-factory. The weekly average price was 5,130 yuan/ton, down 85 yuan/ton from last week, and down 1.63 percentage points from the previous month.
Ethyl acetate continued its weak trend last week at the beginning of the week. As prices continued to fall, middlemen and downstream companies had a demand for replenishment at the current price, but most of them were just-in-time purchases, and there was no obvious willingness to stock up. Most businesses took into account that the decline in raw material acetic acid was difficult to stop, and the contradiction between the supply and demand structure of the industry had not improved, resulting in a significant bearish sentiment. Subsequently, the market reached market expectations. After the news of the shutdown of the device was released, the mood of the business was still cautious, the supply side was sufficient, and the downstream did not allow entry into the market. At the same time, the current usage of most terminals is limited, and the circulation of goods is slow, which has led to most factories having to take volume at low prices.
Ethyl acetate is expected to continue to fall next week. Both East China and South China plants have stopped production, but the inventory pressure of most factories still needs to be alleviated. Rainfall along the Yangtze River and high temperatures in many places have affected the start of downstream operations, and market demand is expected to be difficult to improve. In addition, the expected trend of the two raw materials is not ideal. Longzhong expects that the ethyl acetate market will continue to consolidate downward next week.

Butyl acetate
This week, the market price of butyl acetate fell widely. The lowest price in the East China market was 5,650 yuan/ton, the highest price was 5,775 yuan/ton, and the average price was 5,700 yuan/ton, down 140 yuan/ton from last week, and down 2.40 percentage points from the previous month.
The bearish factors in the butyl acetate market have not dissipated during the week, and the market prices of raw materials n-butanol and acetic acid continue to fall. The cost side affects the mentality of the industry for the future market. Although the price has fallen synchronously with the raw materials, there is still no strong willingness to buy after the decline. At the same time, the terminal consumption rate is slow, and the impact of the weak manufacturing boom continues. The low inventory strategy of buying as needed is generally adopted, which has aggravated the cold atmosphere of the market, resulting in an increase in factory inventory, contradictions between supply and demand in the industry, and many empty allocation operations in the market.
With the continuous decline in prices this week, the upstream is willing to make concessions again, but considering that the inventory pressure of each company has not been alleviated. In addition, the market is in the off-season of demand, the terminal digestion capacity is limited, and the market is insufficient to guide the market, so it is difficult for prices to stabilize subjectively. At the same time, the raw material n-butanol may have a fluctuating downward trend. Longzhong predicts that the market price of butyl acetate will continue to be weak next week, and the center of gravity may still be loose.

Next market outlook
It is expected that the inventory and output of glacial acetic acid will remain at a high level in the next period, and the downstream demand will be mainly normal. It is expected that the Glacial Acetic Acid market will continue to weaken next week.
Key focus
1. Supply side: Sinopec Great Wall is expected to resume normal operation. If there is no unexpected failure of other devices, the capacity utilization rate is expected to increase.
2. Demand side: PTA will not fluctuate much in the next period, and the capacity utilization rate may run smoothly; there will be no shutdown or maintenance of ethyl acetate and butyl acetate next week, and attention should be paid to the impact of changes in the profit side on the start-up of enterprises; the overall capacity utilization rate of vinyl acetate will not fluctuate much.
3. Cost side: The overall supply and demand data of methanol show a positive expansion. Before the inventory pressure is substantially alleviated, the methanol market will find it difficult to get rid of the weak situation and it will be difficult to reverse the pessimistic expectations in the short term. Methanol prices may maintain range fluctuations next week.