September 24th report:
According to Spotcom data, as of the 24th, the price of ethyl acetate was 6766.67 CNY/ton, an increase of 16.67 CNY/ton compared to the price of 6750 CNY/ton on September 21st, a price increase of 0.25%. The price of upstream acetic acid has risen, providing strong cost support, but the downstream market is not accepting high prices well, and the trading atmosphere is weak. The price of ethyl acetate is fluctuating within a narrow range.
On the supply side, the operating rate of ethyl acetate in China decreased this week, and the pressure from spot supply in the market is not significant. In terms of raw materials, the price of acetic acid continues to rise, increasing the production costs for ethyl acetate enterprises, which supports the high-level operation of ethyl acetate prices. Regarding demand, downstream buyers are resistant to high-priced goods, purchasing mainly based on need, which lacks supportive impetus for the market. Some industry players are cautious, and to promote sales, the price of ethyl acetate has slightly retreated.
Looking ahead, with high upstream prices for ethyl acetate, there is a favorable cost support. Although the downstream sector is somewhat resistant to high-priced supplies, considering the need for stockpiling before the holiday, demand remains supported. It is expected that in the short term, ethyl acetate will continue to operate at high levels, with prices fluctuating slightly. Future developments should closely follow the raw material market and downstream demand.
