SunSirs: The Price Trend of EA Continued to Decline (August 12-18)

https://www.chemnet.com   Aug 20,2024 SunSirs

Price trend

This week (8.12-8.18), the domestic price of EA continued to decline. According to the Commodity Market Analysis System of SunSirs, as of the 18th, the price of EA was 6,016.67 RMB/ton, a decrease of 2.33% compared to the beginning of the week price of 6,160.0 RMB/ton. Due to weak demand, insufficient cost boost, and bearish supply side market, the EA market continued to decline.

Analysis review

The market for EA continued to decline this week. On the raw material side, the acetic acid market remained stable, with insufficient cost boost; On the supply side, the main factories in Shandong had poor shipments, with bidding prices continuously decreasing and market transactions being poor, leading to a bearish attitude among industry players; Downstream enterprises had low enthusiasm for entering the market, slow consumption of inventory, and a small amount of essential needs entering the market, resulting in weak performance downstream; There was a lack of favorable conditions in the market, and the price of EA was weakly declining.

Market outlook

The upstream acetic acid market for EA had intentions of exploring an upward trend, and there may be an increase in cost support, which will increase the driving force for the rise of EA; On the supply side, some enterprises' equipment will be shut down for maintenance, resulting in a decline in capacity utilization; Downstream demand is limited, and enterprises mainly consume inventory, which to some extent suppresses the rise of EA. It is expected that the EA market will rise slightly in the later period, and specific attention should be paid to changes in the upstream market and downstream follow-up.

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