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SunSirs: Cost down & weak demand, high price of ethyl acetate down
April 18 2022 15:23:01()

Last week (April 11-15), domestic ethyl acetate reversed the previous rising trend and the price fell back. According to the statistics of SunSirs, the decline this week was 3.06%, mainly due to the lower price of acetic acid raw materials, the main factories in Shandong stopped bidding and changed to retail, affecting the market mentality and the weak downstream demand. At the weekend, the price of ethyl acetate was in the range of 8200-8500 RMB/ton.

First of all, from the perspective of cost, the domestic acetic acid market fell this week. According to the monitoring of SunSirs, the price of acetic acid fell by 2.11%, and the overall transaction was average. The poor public transportation, especially in the central and eastern regions of Shandong Province, is mainly affected by the health incidents. This week, the large plants in Henan were shut down for maintenance and the main factories in Shandong were started with reduced load. On the one hand, the downstream demand was low, on the other hand, the transportation problem and higher freight costs led to the high inventory of manufacturers and the natural downward pressure on manufacturers' prices.

The price comparison chart of acetic acid and ethyl acetate shows that they basically maintain the same trend, but the decline of acetic acid is more obvious, the price performance is weak, and the curve is close, indicating that the profits of downstream ethyl acetate enterprises are still improving.

In addition, from the perspective of ethyl acetate supply, the operating rate of ethyl acetate was stable this week, and the main large factories in Shandong maintained normal operation. This week, manufacturers generally reduced the ex factory price by about 300 RMB/ton. At present, the factory is still retail, and there is no large volume of transactions. Some manufacturers in South China have reduced their production load. At present, the manufacturer's inventory pressure is obvious, mainly reducing prices and arranging inventory, but the market expectation has weakened. At present, the supply of ethyl acetate exceeds the demand.

On the demand side, dealers and downstream factories have weak purchase intention this week, mainly with small orders and low-end prices. Due to the general impact of national public health events, the transportation is limited, the freight is higher than that in the previous period, and the circulation of goods is insufficient, which further limits the demand for ethyl acetate.

In the future, the analysts of ethyl acetate of SunSirs believe that the current cost of ethyl acetate is declining, the supply and demand are weak, and the operating rate of ethyl acetate manufacturers remains stable. However, it does not rule out the reduction of load production due to sluggish transactions and poor profits in the later stage, and the supply pressure may be relieved in the later stage, but considering the weakness of cost, the price is difficult to improve too much.

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