According to *Asian Chemical News*, published on September 26, acetic acid producers across Asia are forecasting a gradual price recovery in the fourth quarter following a significant drop during the second and third quarters. The upward trend is being driven by tight supply conditions, increasing demand, rising natural gas prices, and higher costs for acetic acid derivatives. These factors have collectively contributed to a stronger market outlook.
Celanese has announced a $110/ton increase in its contract prices for acetic acid in Asia for the fourth quarter. BP also raised its Southeast Asian supply contract prices by $50–70/ton in October, with the second-half September contract price ranging between $650 and $700/ton. A BP representative noted that the September price was up by $20–60/ton compared to the previous month. Meanwhile, Japan’s Showa Denko plans a $50/ton increase for the third-quarter contracts, with the second-quarter price at $700/ton (CIF, Northeast Asia). Some Japanese producers believe Celanese’s price hike is influenced by tight supply, stronger demand for refined terephthalic acid and vinyl acetate monomers, as well as rising natural gas costs.
The U.S. Hurricane Katrina had a ripple effect, pushing natural gas prices to $12 per million British thermal units, which in turn boosted the acetic acid market in Asia. However, overcapacity in formaldehyde production and weak methanol demand are preventing a similar rise in methanol prices. Additionally, limited acetic acid supply is further supporting price increases. Leonard Chemical Company, which operates a 480,000-ton/year plant in Texas, suspended operations after the hurricane, leading to reduced U.S. exports to Asia. In September, its acetic acid exports dropped to 4,000–5,000 tons, half of normal levels.
Market analysts suggest that the shutdowns and maintenance of several facilities across Asia in the fourth quarter will worsen supply shortages and continue to support higher prices. A manufacturer mentioned that after Celanese’s Singapore plant underwent maintenance in August, the carbon monoxide supply had not fully recovered. However, Celanese did not comment on this.
South Korea’s Samsung BP Chemical shut down its 450,000-ton/year acetic acid plant in Ulsan and its downstream 150,000-ton/year vinyl acetate unit last week. Aicel Chemical plans to halt its 360,000-ton/year acetic acid plant in Otake for a one-month overhaul starting in November, while its 42-million-ton/year facility in Himeiji remains operational.
Daqing Petrochemical delayed the restart of its 100,000-ton/year acetic acid plant due to technical issues. Other Chinese acetic acid plants using ethylene and ethanol feedstocks were forced to shut down due to high raw material costs. The Shanghai Wujing Acetic Acid Plant faced production challenges due to a methanol shortage, as Shanghai Coking Co. reduced its output. Meanwhile, Formosa BP Chemicals’ 300,000-ton/year acetic acid plant in Taiwan experienced a one-month delay in commercial production due to typhoons and heavy rains, with an expected start-up in mid-October.
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