This week (12.12-16), the domestic price of ethyl acetate did not change much. According to the statistics of the business community, the decline this week was 0, the raw material acetic acid hovered at a low level, the main factories in Shandong stopped selling, the market supply was tight compared with the previous period, and ethyl acetate temporarily stopped falling due to the improvement of supply and demand. At the weekend, the market price of ethyl acetate was between 6200-6500 yuan/ton.
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From the perspective of acetic acid, according to the monitoring of the business community, the price of acetic acid continued to decline this week, with a weekly drop of 0.55%. The price is still low. Downstream demand downturn is difficult to support prices out of the haze, especially in North China, Northwest and other regions where demand is weak, and the fundamentals are negative, which may be difficult to reverse in the later period.
From the above figure, we can see that the price trends of acetic acid and ethyl acetate are highly correlated. Recently, the curves of the two intersect, and the decline of acetic acid is stronger than that of downstream ethyl acetate.
In addition, from the perspective of ethyl acetate supply, the starting rate of ethyl acetate this week decreased slightly, and the current operating rate of the industry is about 5.5% to 60%. Shandong large factories suspended sales, easing the pressure on market supply, but high social inventory still restricts the price rebound. This week, the quotations of some manufacturers were stable, and the prices of some factories were raised. However, the market expectation turned weak. At present, the situation that the supply of ethyl acetate exceeded the demand remains unchanged.
On the demand side, the downstream procurement remained just in demand, and the purchase intention of dealers and downstream factories was weak in the late ten days. The main factories in Shandong changed from auction to retail, and the deal was not ideal. Downstream orders contracted, resulting in a significant slowdown in the speed of goods delivery. The number of transactions in the market is relatively small, and most transactions are at low prices.
In the future, the ethyl acetate analysts of the business community believed that the current raw material acetic acid is sluggish, which is not much good. It is unlikely that it will continue to rebound in the later period, and the cost will not be supported. In addition, the supply and demand will not improve too much. Therefore, it is expected that the short-term weakness of acetic acid will not change, and the price will fluctuate slightly.
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