Recent Continuous Decline in the Ethyl Acetate Market in China

April 23 news

According to SpotCom, as of the 22nd, the price of ethyl acetate was 6,800 CNY/ton, a decrease of 676.66 CNY/ton compared to the price of 7,473.33 CNY/ton on April 11th, a price decrease of 9.01%. The raw material prices for ethyl acetate have fallen, leading to negative cost pressures. Market sentiment among industry players is pessimistic, and the price trend of ethyl acetate continues to decline.

The continuous decline in upstream acetic acid prices has had a negative impact on the ethyl acetate market, driving prices downward. The downstream sector of ethyl acetate is cautiously following, with low enthusiasm for purchasing, leading to insufficient demand support. On the supply side, the facility utilization rate has increased, leading to a rise in the supply of goods. Enterprises are showing a clear intention to ship out products, and the market is overshadowed by a bearish sentiment, resulting in a weak downward trend for ethyl acetate.

Spot market trend forecast:

According to Spotcom data, the 10-day moving average of ethyl acetate prices has crossed below the 20/30-day moving averages, and the 20-day moving average is trending downward, indicating a clear decline in prices with the possibility of further short-term drops.

Combining the five levels, the current price is at a low position for 10/20/30 days, indicating that the price has fallen from a high level; the 60/90-day and 1-year positions are in a mid-to-high range, indicating that the medium-term trend is still relatively strong, but the upward momentum is weak, and the short term may mainly be characterized by consolidation.

Looking ahead, the cost support for ethyl acetate is generally weak, and under the influence of negative factors, it may continue to decline. From a fundamental perspective, the facility utilization rate for ethyl acetate is relatively high. Before the holiday, companies are mainly focused on shipping, but downstream demand is poor, leading to limited purchases of ethyl acetate. The market supply and demand are weak, and it is expected that the ethyl acetate market will consolidate at a low level in the later period. The specific focus will be on the raw material market and the follow-up situation of downstream demand.