Price trend

Recently (4.17-4.24), the domestic EA market had shown weak performance and prices had continued to decline. According to the Commodity Market Analysis System of SunSirs, as of the 24th, the decline in EA had been 0.68%, with a cumulative range of 30-100 RMB/ton. The main reason was the bearish performance of cost demand.

Analysis review

Since April 17th, the supply and demand of EA market had been continuously weak. The high utilization rate of production capacity on the supply side had put pressure on supplier shipments, and the bidding prices of Shandong's main factories had been lowered, suppressing market confidence; In terms of demand, terminal consumption was slow, downstream purchases were followed up on demand, and the demand side continued to be bearish. On the raw material side, the price of acetic acid was relatively weak and the cost support was weakened, which might continue to be transmitted to the terminal in the later stage, affecting the downstream trend of ethyl ester.

Market outlook

In the future, with weak supply and demand of EA and difficulty in improving short-term fundamentals, it is expected that the EA market will maintain a weaker consolidation in the short term. It is recommended to pay attention to the price execution of raw material acetic acid and EA manufacturers. As of April 24th, the mainstream transaction price in the market is between 6,200-6,450 RMB/ton.

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