According to *Asian Chemical News* on September 26, Asian acetic acid producers are forecasting a gradual price recovery in the fourth quarter after a sharp decline in the second and third quarters. Tight supply, rising demand, and increasing natural gas prices are key factors driving this upward trend. Additionally, higher prices for acetic acid derivatives have further supported the market.
Celanese has announced a $110/ton increase in its Asia contract prices 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 priced between $650–700/ton. A BP representative noted that September prices rose by $20–60/ton compared to the previous month. 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 driven by tight supply, stronger demand for refined terephthalic acid and vinyl acetate monomers, and rising natural gas costs.
Following Hurricane Katrina, U.S. natural gas prices surged to $12 per million British thermal units, which helped strengthen the Asian acetic acid market. However, overcapacity in formaldehyde production and weak methanol demand are preventing prices from rising significantly. Meanwhile, increased acetic acid supply is also pushing prices up. Leonard Chemical Company, which operates a 480,000-ton/year acetic acid plant in Texas, halted operations after the hurricane. Due to force majeure, U.S. exports to Asia dropped, worsening supply shortages. In September, the company's Asian exports fell to 4,000–5,000 tons, down from earlier levels.
Market analysts suggest that further supply constraints in the fourth quarter, due to plant shutdowns and maintenance across Asia, will support continued price increases. A manufacturer mentioned that after Celanese’s 500,000-ton/year Singapore plant underwent maintenance in August, the carbon monoxide supply had not fully recovered. However, Celanese did not comment on the issue.
South Korea’s Samsung BP Chemical closed its 450,000-ton/year acetic acid plant in Ulsan and the downstream 150,000-ton/year vinyl acetate unit last week. Aicel Chemical also planned to shut down its 360,000-ton/year acetic acid plant in Otake for one month in November, while its 42-million-ton/year facility in Himeiji remained operational.
Daqing Petrochemical delayed the restart of its 100,000-ton/year acetic acid plant this month due to technical issues. Several Chinese acetic acid plants using ethylene and ethanol feedstocks were forced to shut down due to high raw material costs. Shanghai Wujing Acetic Acid Plant faced production challenges due to a methanol shortage, as Shanghai Coking Co. reduced output. The 300,000-ton/year acetic acid plant built by Formosa BP Chemicals in Taiwan was delayed by one month due to recent typhoons and heavy rains, with plans to start operations in mid-October.
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