SunSirs: This Week, the EA Market Consolidated to Weaken Slightly (June 24-28)

https://www.chemnet.com   Jul 01,2024 SunSirs

Price trend

This week (6.24-6.28), the domestic price of EA first fell and then stabilized. According to the Commodity Market Analysis System of SunSirs, as of the 28th, the price of EA was 6,250 RMB/ton, which was 0.11% lower than the price of 6,256.67 RMB/ton on June 24th during the week. The main reason was the decline in upstream prices and the negative impact on cost, resulting in a downward trend in the EA market.

Analysis review

This week, the EA market showed weaker consolidation. On the supply side, the utilization rate of EA production capacity was low, and there was no pressure on the supplier's inventory, supporting the strong operation of EA prices; On the raw material side, the price of acetic acid continued to decline, and cost support was weak. The upstream market was transmitted to the terminal market, affecting downstream purchasing. The entry into the market followed up on demand, and under the supply-demand game, the price of EA had slightly decreased with the upstream market this week.

Market outlook

As of June 28th, the upstream acetic acid price of EA was continuously decreasing, and the cost side was negatively affected. The production and sales of EA suppliers were relatively balanced. However, downstream procurement was on demand, and the market mentality was unstable due to the influence of raw materials. It is expected that the EA market may be weaker in the later stage. Please pay attention to the price execution of raw material acetic acid and EA manufacturers. As of June 28th, the mainstream transaction price in the market was between 6,100-6,350 RMB/ton.

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