SunSirs: The EA Market Remained Weak in November
November 13 2024 15:59:13 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 11th, the price of EA was 5,773.33 RMB/ton, a decrease of 2.70% compared to the price of 5,933.33 RMB/ton on November 1st. Due to weak downstream demand and declining raw material prices, there was a strong bearish sentiment in the market, leading to a continuous decline in the EA market.
Analysis review
Since November, the price of EA in China has been continuously declining. Downstream demand was weak, and cautious observation was the main focus. Manufacturers' shipments were hindered, inventory continued to accumulate, and the mentality of the main factories was poor. The quotation for EA continued to decline. At the same time, the raw material acetic acid market was declining, and the cost side was bearish, which was transmitted to the end market and affected downstream buying. Trading in the market was weak, and the focus of EA transactions continued to shift downwards. On the 11th, the main factory stopped, downstream buying increased, and the price of EA slightly rose.
Market outlook
The EA market has experienced equipment shutdowns, a decrease in supply, an increase in bullish sentiment within the market, and a wait-and-see attitude downstream. The demand for entering the market has followed suit, which has relatively weakened the inventory pressure on manufacturers and increased market benefits. It is expected that the short-term price of EA may be stronger, and specific attention should be paid to changes in the upstream market and downstream follow-up.
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