SunSirs: The Price of EA Remained Stable This Week (January 29-February 2)

Price trend

This week (1.29-2.2), the domestic EA market remained stable. According to the Commodity Market Analysis System of SunSirs, EA rose or fell by 0%. On the one hand, costs had improved, and on the other hand, the overall market performance was moderately tight in supply, but the transaction atmosphere was weak due to the limited improvement in downstream demand.

Analysis review

Recently, the EA market had maintained a stable trend. Continuing to push up was weak. The market trading atmosphere was still good, with downstream procurement being mainly in demand. The rise and fall ranges of ethyl esters in East China, Central China, and South China were all within the 100 RMB/ton range. At the beginning of this week, most large factories stabilized their quotations, while some manufacturers in Hebei, Anhui, and Jiangsu regions slightly increased their quotations, but the magnitude was not significant, controlled within 50 RMB/ton. Shandong's main large factories were bidding for shipments, and the bidding effect was relatively ideal, with a premium transaction and overall shipments maintaining a normal level. The prices of raw materials and acetic acid had rebounded since January, while the cost side had continued to improve, and may continue to be transmitted to the terminal in the later stage. Boosted downstream ethyl ester to maintain a strong trend.

Market outlook

As of February 2nd, the supply and demand of EA were basically balanced, and with little improvement in the short-term fundamentals, it is expected that the adjustment in a range will continue next week. However, due to the strong impact of acetic acid, there may be room for market replenishment. It is recommended to pay attention to the production status of raw material acetic acid and EA manufacturers. As of February 2nd, the mainstream transaction price in the market was between 6,700-6,900 RMB/ton.

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