Ethyl Acetate Market Went up in the Traditional Off-Season

Summer is the traditional off-season on the hot and rainy weather. However, the Chinese ethyl acetate market went up in July and August, though it slid in June. Taking the price in East China as the example, the price of ethyl acetate was RMB 4,700/mt at the end of June. Up to September 25, the price was RMB 5,550/mt, which was up 18.09%.

The ethyl ACETATE market mainly increased in July 2017. Ethanol and glacial acetic acid prices went up, which supported the production cost of ethyl acetate. Moreover, units in Henan Shunda, Nantong Lianhai, Jiangyin Baichuan and Guangxi Xintiande were shut, the supply of ethyl acetate declined. Before that, most players were bearish about the market, and the inventories at middlemen and downstream users were limited. Given the declining supply , the bullish sentiments got strong and the buying interest increased. After the mild fluctuations in August, the ethyl acetate market remained high on the increasing glacial acetic acid prices.

With the National Day holiday coming, the prices may remain firm during the holiday on the low inventory. However, the prices may move down after the holiday. Glacial acetic acid units are running normally, and the supply will increase. Furthermore, the maintenance of PTA unit and 19th National Congress, the demand for glacial acetic acid will be weak. And the inventory of ethyl acetate is increasing. Hence, it is predicted that the ethyl acetate market may inch down in the coming market.