Prices of Acetic Acid: During the second quarter of 2023 | ChemAnalyst
For the Quarter Ending June 2023 North America The prices of Acetic Acid have shown a sharp decline at the beginning of the quarter and then prices have declined with slower rate during the second half of Q2. This was mostly due to economic uncertainty amid high inflation and rising interest rate to control inflation which led to a decrement in demand from the downstream industries like VAM, Acetate, and Anhydride. Additionally, the plants were operating at slower rates due to weak demand from the downstream industries. Furthermore, the feedstock methanol had limited cost support, as signified by Methanex’s monthly Methanol contract prices. In Addition, there were limited order inquiries from the downstream industries. What is more, there was a significant decline in the prices of Natural gas at the beginning of the quarter since there has been a price recovery in the market, which led to a decrement in input production cost. Moreover, demand from the internati...