Acetone (CAS: 67-64-1), also known as dimethyl ketone, is the simplest aliphatic ketone with the molecular formula C3H6O and a molecular weight of 58.08. It is a colorless, transparent and highly volatile liquid at room temperature, with a characteristic pungent odor. Miscible with water, ethanol, ether, and most organic solvents in any proportion. As a basic organic chemical raw material and low-toxic solvent, it is a core product of the phenol-acetone industrial chain and widely used in key sectors such as chemicals, pharmaceuticals, electronics, and coatings.
From late February to early March 2026, the acetone market experienced sharp volatility characterized by a "sharp rise followed by a pullback", with the core logic centered on the dual game between Middle East geopolitical shocks and domestic supply-demand fundamentals. The price movement from a rapid surge to a correction clearly reflected the market's shift from sentiment-driven to rational trading.
In terms of price trends, the current market cycle showed a three-stage pattern: before the escalation of Middle East tensions on February 28, the average price of acetone in East China was about 4,625 CNY/ton; after the conflict broke out, prices surged rapidly, with market negotiation prices hitting the 7,500-7,700 CNY/ton range on March 9, an increase of over 60% compared with February 28; on March 10, market sentiment cooled down, and the market price in East China pulled back to 7,000 CNY/ton, with a single-day correction of about 6.7%, ending the short-term surge. Major domestic producers such as Longjiang Chemical and Sino-Saudi Tianjin Petrochemical successively raised ex-factory prices in early March, among which Longjiang Chemical increased prices by 400 CNY/ton to 6,400 CNY/ton on March 6, becoming a key driver of this round of price increases.
However, weak demand has always been the "weak link" in the market. Although downstream industries such as MMA and isopropanol turned profitable during this round of price increases, providing some rigid demand support for acetone, most terminal industries are still in the post-Spring Festival resumption stage with weak willingness for active procurement. As prices surged above 7,500 CNY/ton, the acceptance of high-priced cargo by downstream sectors such as coatings and pharmaceuticals dropped significantly, and the market successively saw a situation of "high prices but few transactions" with shrinking physical transactions, laying the groundwork for the subsequent price correction.
