This week (5.10-14), the domestic ethyl acetate market fell from a high level, and experienced a rise in late April. In the first week of May, the market froze at a high level. While the downstream demand was still relatively weak, the market fell back this week. According to the monitoring of the business community, the decline this week was 2.65%. The main reason is that the upstream acetic acid market is lower, the support is weakened, and the operation rate of ethyl acetate enterprises is stable, the supply of goods is relatively sufficient, and the market has a strong wait-and-see mood. As a result, the bearish signal of ethyl acetate rises again, and the major manufacturers have lowered their quotations one after another, and the prices have continued to fall this week.
First of all, from the perspective of the upstream acetic acid market, according to the monitoring of the business community, the price of acetic acid has been declining continuously since the festival, with a decrease of 2.33% from May 6 to 14 (as shown in the figure below). On the one hand, the operating rate of acetic acid is high, generally between 80% and 90%, and the units that were shut down in the early stage have been put back into operation one after another, especially the Hebei Jiantao unit, which has been put back into full production, but the domestic production has only increased. The high price lost its advantage, laying the groundwork for the decline of ethyl acetate in the downstream.
In addition, from the perspective of ethyl acetate supply, the current market supply is relatively abundant, and the operating rate of enterprises is stable. Compared with the high price in the early stage, the market acceptance is reduced, and the speed of delivery is also gradually slowing down. The prominent supply pressure makes the pressure directly transmitted to the enterprise end, and the large factories continuously reduce the price. According to the calculation of the business society, the price reduction of large factories is about 300 yuan / ton.
From the perspective of supply and demand of ethyl acetate, when the terminal demand enters the summer, the traditional off-season market and purchase reduction depress the price of ethyl acetate. After a previous round of price increase, the lower reaches show rational and certain resistance to the high price of ethyl acetate. The number of households is affected to a certain extent, and the market is even weaker.
In the future, ethyl acetate analysts of business cooperatives believe that there is still downward pressure on ethyl acetate in the short term. On the one hand, it is suppressed by the weak market of acetic acid, and on the other hand, the contradiction between supply and demand is prominent. However, at present, the profit of ethyl acetate is low, the willingness of enterprises to reduce prices is not strong, and the downward space is expected to be limited. In the near future, we will maintain a weak position and focus on narrow adjustment.