Price trend

This week (5.8-12), the domestic EA market declined slightly, and there was little room for the market price to rise or fall. According to the commodity market analysis system of SunSirs, the decline of EA was 0.24%. The overall performance of the market remained stable, and the trading atmosphere was weak.

Analysis review

The EA market remained weak this week. The market trading atmosphere was light, with downstream procurement was mainly based on demand. The EA markets in East China, Central China, and South China had all weakened, with declines in the 50 RMB range. This week, most large manufacturers' quotations stabilized, while some large manufacturers such as Jinyuan and Sop lowered their prices by around 100 RMB/ton. Shandong's major manufacturers were bidding for shipments, and the bidding effect was average. The bidding starting price was not adjusted, and overall shipments remained at a normal level. In terms of raw materials, the price of acetic acid continued to rise this week, with an increase of 1.02%. There was still support in the cost side, and it may continue to be transmitted to the terminal in the later stage, which boosted downstream EA to maintain a stronger trend.

Market outlook

The cost side is affected by the strong strength of acetic acid, and it is expected that there will be little downward space for downstream EA. As of the 12th, the supply and demand of EA were basically balanced, and it is expected that the EA market will continue to adjust in a range next week, as the fundamentals are difficult to improve in the short term. It is recommended to pay attention to the operation status of raw material acetic acid and EA manufacturers. As of 12th, the mainstream transaction price in the market was between 6,700-6,850 RMB/ton.

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