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SunSirs: Supply Slowed Down and the EA Market Rose Steadily
August 13 2020 14:30:04SunSirs(John)

Price trend

According to the monitoring of the bulk data of SunSirs, the East China EA market has been steadily rising due to the impact of corporate maintenance. As of August 12, the average price of East China companies was around 5,682 RMB/ton, an increase of 1.47% from the beginning of the month and an increase of 1.93% from the same period last month.

Analysis review

Affected by the previous oversupply market conditions and high cost pressures, some production companies have experienced passive losses. However, the recent shutdown of EA companies in Shandong has greatly eased this situation. Companies have increased their ex-factory prices accordingly. The downstream market has a better buying attitude, and market transactions have gradually become active. At present, EA in East China is about 5,700 RMB/ton, EA in North China is 5,400-5,600 RMB/ton, and EA in South China is about 5,900 RMB/ton.

In terms of raw materials, the acetic acid market was affected by the company's overhaul, and the market's bearish attitude slowed down. The price of acetic acid stopped falling and stabilized. With the completion of the company's overhaul and the overall high inventory of the market, negative factors for the market outlook still exist. The ethanol market is consolidating at a high level, and the raw material corn is still at a high level. Some large factories have successively introduced maintenance plans. However, the recent weak demand in the downstream market has led to a downward trend in ethanol prices, which is currently about 6,175 RMB/ton.

Internationally, the overall performance of international EA is relatively stable. The port price in the European market is around 750 Euro/ton; the port price in the North American market is around 610-660 US dollars/ton.

Market outlook

The EA analyst of SunSirs believes that the current domestic EA market is high and the wait-and-see atmosphere is strong, and the recent decline in raw material prices has insufficient support for EA. The early purchase of the downstream market has eased the inventory pressure of enterprises to a certain extent. It is expected that the price of EA will remain strong in a short period of time, and the market outlook still needs to pay attention to the raw material market and the production situation of enterprises.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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