After the first half of 2022, the domestic acetone market formed a deep V comparison. The impact of supply and demand imbalance, cost pressure and external environment on market mentality is more obvious.
In the first half of this year, the overall price of acetone showed a downward trend, and the price center gradually declined. Although the public health control in some regions was upgraded at the beginning of the year, the regional transportation was slow, the holding polarity increased, and the market focus increased.
By the second quarter, the acetone market had risen sharply, but with the decline of crude oil shocks and the weakness of pure benzene, the cost support of phenol and ketone plants weakened; The acetone market has sufficient supply. The demand for parking of some MMA acetone in and out of the equipment plan has shrunk. The parking and maintenance of some isopropanol equipment has not been restarted. The demand is difficult to increase significantly. The imbalance between supply and demand has led to the fall of acetone price.
In July and August, the market experienced a low range shock and finally ushered in the rise of the Jinjiu market supported by the supply side shortage. The production time of domestic new phenolic ketone equipment was delayed, and some goods were delayed to arrive at the port. The market supply concentration became the main factor for the market rise. Although the “golden nine” appeared, the “silver ten” did not come as scheduled, the expectations of the market supply and demand side fell, the fundamental stalemate lacked bright support, and the overall market trend was weak.
In November, on the one hand, the maintenance of some equipment led to a decline in domestic production; on the other hand, the downstream demand gradually recovered, and the port inventory gradually decreased, supporting the market rebound. In December, the shortage of market supply resources was relieved, and the liberalization of epidemic policy led to an increase in the number of infected people, a significant decline in downstream demand, and a continuous decline in the market focus. By the end of December, the average annual price of domestic acetone mainstream market was 5537.13 yuan/ton, down 15% from the same period last year.
2022 is a big year for acetone production expansion, but most of the domestic pre-production equipment is delayed. It is expected that the new equipment will be put into production at the end of 2022 or the first quarter of 2023, and the pressure of the supplier will be released in 2023. Due to the production or storage time difference of downstream configured equipment, domestic acetone may usher in a loose supply and demand pattern in 2023. The localization process may further reduce the share of offshore import market, and the acetone market segment will also be further depressed.

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