SunSirs: The Supply was sufficient and Ethyl Acetate Market Turned Round to Fell

Price trend

Last week, the domestic ethyl acetate Market showed a weak performance. After the Mid-Autumn Festival, the plant started to work steadily and the market supply increased significantly. According to the monitoring data of SunSirs, the market offer of ethyl acetate in eastern China was 6176 RMB/ton at the beginning of the week, while the market offer of ethyl acetate in eastern China was 6066 RMB/ton at the end of the week, falling by 1.78%.

Analysis review

Products: The domestic ethyl acetate Market has an obvious downward trend. Considering the inventory pressure of the manufacturers during the National Day holiday, at present, the manufacturers take the initiative to let the profits for shipment, driving the market down continuously. At present, the market inventory is relatively high, and the market is still bearish next week. Up to now, the market offers are as follows: the mainstream reference offer in East China is 5950-6050 RMB/ton, the North China offer is 5850-5950 RMB/ton, and the mainstream offer in South China is 6000 RMB/ton. The market as a whole fell 150-200 RMB/ton.

Industry chain: As for acetic acid, the domestic acetic acid market has been weakening, dropping by 2.37% in a week. At present, the quotation in Henan is around 3150-3200/ton; in Shandong, about 3350-3500 RMB/ton; in Hebei, about 3500-3550 RMB/ton; in Jiangsu, about 3350-3450 RMB/ton; and in Zhejiang, about 3500-3600 RMB/ton. The acetic acid Market in North America has been running steadily, with flat market turnover and weak purchasing atmosphere, currently around US$360 per ton. Affected by poor demand, the price of acetic acid in Asia has continued to fall, currently at US$435-475 per ton, with strong bearish sentiment in the future. The supply and demand of the acetic acid Market in Europe has been stable and has been running steadily within a week, with the current quotation of about 650 euros per ton.

In terms of ethanol, the alcohol market was generally stable before the National Day. With the listing of new grain, the cost is short, the start of enterprises remains stable, and the market is stable with a slight downward trend.

Market outlook

At present, the cost support is weak, the market bearish atmosphere is getting stronger and stronger, and the downstream demand just needs to follow up. Considering the transportation pressure during the National Day and the demand for reducing inventory, it is expected that there will still be downside in the downstream ethyl acetate market. The reference price in East China is 5900 RMB/ton.

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