Recently, the 1.5 million tons/year acetic acid project at the Juzhengyuan (Jieyang) New Materials Base has officially entered the trial production phase. This project uses methanol and carbon monoxide as raw materials to produce acetic acid through a low-pressure carbonylation reaction catalyzed by a rhodium-based catalyst.

PriceSeek Analysis
Methanol, Bull-Bear Score: 1.5
The project utilizes methanol as a raw material for acetic acid production, with an annual demand of approximately 1.5 million tons. This significantly increases methanol demand, benefiting both spot and futures prices. The main methanol futures contract 2605 (Zhengzhou Commodity Exchange) recently closed at 2,263 yuan/ton, with active trading. The anticipated new demand is expected to push prices higher, particularly supporting forward contracts.

Acetic Acid, Bull-Bear Score: -1.5
With the project's annual production capacity of 1.5 million tons of acetic acid entering the trial production phase, the additional supply will increase market pressure, posing a significant bearish impact on spot prices and potentially leading to a price decline. Changes in the supply-demand balance will likely suppress short-term price rebounds.