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SunSirs: Ethyl Acetate Market Ran Steadily
July 23 2020 14:44:02SunSirs(John)

Price trend

According to data from SunSirs, the ethyl acetate market in East China began to decline gradually due to poor demand. As of July 22, the average price of enterprises in East China was around 5,570 RMB/ton, down 0.9% from the same period last week. The month-on-year increase was 3.72%.

Analysis review

At present, the overall wait-and-see atmosphere of the domestic ethyl acetate market is strong, the downstream market demand is weak, and the situation of oversupply in the industry has intensified. However, the overall performance of the upstream market is strong, and the pressure on the production cost of enterprises is obvious, and the market performance is deadlocked.

In terms of raw materials, the overall supply and demand of the acetic acid market is in a game, and some enterprises' equipment maintenance has driven prices to rise slightly, but the overall market is still stable. With the expected increase in supply in the market outlook, there is a possibility of a decline in the long-term. The ethanol market continued its upward trend. The rising price of raw material corn supported the rise in ethanol prices. Some companies closed their stocks without quoting, and the market supply was tight.

Internationally, the overall performance of international ethyl acetate is relatively stable. The port price in the European market is around 740 Euro/ton; the port price in the North American market is around 650-670 US dollars/ton.

Market outlook

The Ethyl Acetate analyst of SunSirs believes that the domestic ethyl acetate market has stable spot supply, limited downstream demand, and insufficient market transactions. Although the cost-side support is strong, the oversupply situation in the industry is difficult to alleviate. It is expected to operate stably in the short term.

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