ACN market soars unexpectedly

In the first week of September, ACN market prices rose from 11,850yuan/mt at the end of August to around 12,500yuan/mt, with an increase of 5.5%. If this tendency continues, price may rise to 13,000yuan/mt or above. Actually, the small orders of some traders have been priced at this level. There are many factors for this round of surge.

Firstly, for production plan, Sailboat's two production lines with annual capacity of 260kt shut down for maintenance successively in August; Shanghai Secco's 130kta production line has been shut from September 5 to 11; Sailboat's new unit has not been put into production yet; Shandong Haili's unit remained shut and the time of restart has not been confirmed; Sinopec Anqing will prepare stock in Sep for the annual turnaround in October. The supply declined on the whole in September.

From the perspective of inventory, inventory of PetroChina Fushun was at a relatively low level of around 1kt. Shandong Koruhr's inventory was lower than 1kt, and almost no inventory could be accumulated by daily production. It was heard that Jiangsu Sailboat's two production lines ran normally from last weekend, and inventory was limited due to production reduction in previous stage.