SunSirs: The Market for EA First Rose and Then Fell in Mid November
November 21 2024 09:29:04 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of the 19th, the price of EA was 5,740.00 RMB/ton, a decrease of 0.58% compared to the price of 5,773.33 RMB/ton on November 11th. Due to weak downstream demand, significant inventory pressure from manufacturers, and bearish market sentiment, the EA market was running weakly.
Analysis review
In mid November, the domestic price of EA first rose and then fell. The rise in raw material prices in the early stage has boosted the market sentiment of ethyl ester, and manufacturers' quotations have slightly followed suit; In the later stage, downstream demand showed weak performance, the market transaction atmosphere was weak, and the rise in raw material prices did not bring effective benefits. Manufacturers still faced significant pressure to ship, and inventory has accumulated. In order to promote transactions, the main factories have continuously lowered their quotations. Under the supply-demand game, the overall EA market was consolidated to be weaker overall.
Market outlook
With the continuous decrease in the price of EA, downstream market buying sentiment has increased, and the pressure on manufacturers has weakened. Some manufacturers have slightly increased their quotes, and the mentality of the industry was good. It is expected that the price of EA will continue to rise in the short term. Please pay attention to the changes in the upstream market and the follow-up situation in the downstream.
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