According to the monitoring of the bulk data of SunSirs, the EA market was weakly declining due to poor downstream demand. As of November 12, the average price of enterprises in East China was around 6,552 RMB/ton, a decrease of 0.83% from the beginning of the week, and an increase of 13.41% month-on-month.
Recently, the domestic EA market has declined weakly, but the price of EA is still at a high level. The EA production enterprises are operating stably and the market supply is sufficient. Affected by the weakening of downstream demand, the sales pressure of enterprises is low, and the inventory is passively accumulated. Market prices continue to decline, and the market is bearish. At present, the price of EA in East China is about 6,500 RMB/ton, in North China is about 6,400 RMB/ton, and in South China is about 6,750 RMB/ton.
In terms of raw materials, the acetic acid market is gaining momentum, with dual support from export and domestic demand, low corporate inventories, coupled with high raw material prices, tight market supply, and multiple positives that support the firm rise of acetic acid prices. The ethanol market declined from a high level, raw corn fell slightly, raw material procurement in the Northeast region was slightly difficult, corporate orders were shipped, and demand from downstream liquor and chemical industries was limited. Currently, ethanol in East China is about 6,775 RMB/ton.
The international market price of EA fluctuated and adjusted. The current port price in the European market is around 1,300-1,400 Euro/ton; the port price in the North American market is around690 US dollars/ton.
The EA analyst of SunSirs believes that the current domestic EA market is operating weakly. With the weakening of the raw material ethanol, the cost side support is insufficient, especially when the downstream market demand is weak, the market is bearish. The price of EA is expected to run weakly in a short time.
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