SunSirs: This Week, the Price of EA First Rose and Then Fell (July 12-19)

https://www.chemnet.com   Jul 23,2024 SunSirs

Price trend

This week (7.12-7.19), the domestic price of EA first rose and then fell. According to the Commodity Market Analysis System of SunSirs, as of the 19th, the price of EA was 6,250.00 RMB/ton, an increase of 1.08% compared to the price of 6,183.33 RMB/ton on July 12th. The main reason for the volatile operation of EA market was the rise in upstream prices, the positive impact on cost, and limited downstream demand.

Analysis review

This week, the EA market had shown strong consolidation. On the supply side, the utilization rate of EA production capacity was low, and there was no pressure on supplier inventory, leading to a wait-and-see attitude among industry players; On the raw material side, the price of acetic acid remained high and strong, with favorable cost support, driving up the price of EA. However, the mentality of acetic acid weakened in the later stage, and the upstream market was transmitted to the end market, affecting downstream purchasing. Under the supply-demand game, the price of EA first rose and then fell during the week.

Market outlook

As of July 19th, there was a downward trend in the upstream acetic acid price of EA, and the cost support was weakened. The inventory of EA suppliers was not under pressure, but downstream demand was limited. In addition, the market mentality was unstable due to the influence of raw materials. It is expected that the EA market will remain stagnant and consolidate in the later stage. Specific attention will be paid to the price execution of raw materials such as acetic acid and EA manufacturers. As of July 19th, the mainstream transaction price in the market was in the range of 6,050-6,450 RMB/ton.

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