Price trend

In April, the market situation of EA was weak and downward, and the price trend continued to decline. According to the Commodity Market Analysis System of SunSirs, as of April 30th, the average production price of EA was 6,260.00 RMB/ton, a decrease from the beginning of the month price of 6,433.33 RMB/ton, with an overall decline of 2.69%. The main reason was the bearish performance of cost demand.

Analysis review

Within the month, the supply and demand of EA market continued to be weak. On the 11th, due to the rise in raw material acetic acid prices, the price of EA was slightly increased. However, due to the overall weakness of the EA market and limited positive support, the price of EA continued to decline. The high utilization rate of production capacity on the supply side had put pressure on supplier shipments, and the retail prices of Shandong's main factories continued to decline, suppressing market confidence; In terms of demand, terminal consumption was slow, downstream purchases were following up on demand, and the demand side continued to be bearish.

According to the analysis system of the acetic acid market of SunSirs, as of April 30th, the price of acetic acid was 3,250 RMB/ton, an increase of 4.84% compared to the price of acetic acid on April 1st, which was 3250 RMB/ton. The price of acetic acid on the raw material side first rose and then fell, with limited cost support. In late April, the acetic acid market continued to spread to the terminal, affecting the weak trend of downstream ethyl ester.

Market outlook

The price of EA had fallen to a relatively low level, and downstream may have the intention to replenish at a low price. It is expected that the price will rise in the future. However, considering the weak supply and demand of EA and the difficulty in improving long-term fundamentals, the EA market will maintain a low consolidation. It is recommended to pay attention to the price execution of raw material acetic acid and EA manufacturers.

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