This week (5.20-5.24), the domestic ethyl acetate market showed weak performance and prices continued to decline. According to the Commodity Market Analysis System of Business Society, as of the 24th, the price of ethyl acetate fell from 6326.67 yuan/ton to 6290.00 yuan/ton, a decrease of 0.58%, with a cumulative range of 40-50 yuan/ton. The main reason for the bearish performance of cost demand.
Market analysis: The supply and demand of ethyl acetate market continued to be sluggish this week. The utilization rate of production capacity on the supply side is high, and the supply side is under pressure for shipments. Shandong’s main factories are offering discounts for shipments, resulting in a decrease in bidding prices; In terms of demand, terminal consumption is slow, with downstream buyers mainly seeking low prices and resisting high priced sources. The demand side continues to be bearish. On the raw material side, the price of acetic acid continues to decline, and cost support is weak. It may continue to spread to the terminal in the later stage, affecting the downward trend of downstream ethyl ester.
In the future, with weak supply and demand of ethyl acetate and difficulty in improving short-term fundamentals, it is expected that the ethyl acetate market will continue to operate weakly in the short term. It is recommended to pay attention to the price execution of raw material acetic acid and ethyl acetate manufacturers. At present, the mainstream transaction price in the market is between 6200-6370 yuan/ton.
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