Acetic acid prices in China remained stable in the week ending December 1.Downstream demand was sluggish in the market amid ample product availability.Overall market sentiment was dull.Inventory levels were reportedly high with the manufacturers
Prices were assessed around US$510/ton in the month of January this year,which went up by around 5%in February.Prices witnessed a MoM decline of around 2%in March.
However,prices surged up by 1%-3%in April and May.Prices inched down again by 5%to 8.5%MoM in June and July.
Prices started moving up again from the month of August and saw a hike of 2%to 5%till October.Prices were hovering around US$525-540/ton in the month of October this year,which saw a MoM decline of 1.9%in November and stabilized at around US$460-515/ton in the current month.
Fluctuating prices of upstream products and changing downstream demand trends were mainly attributed to the price movement.
Fibre2fashion News Desk-India
