SunSirs: Recently, the Price of EA Had Been Running Weakly (August 21-27)

https://www.chemnet.com   Aug 29,2024 SunSirs

Price trend

Recently (8.21-8.27), the domestic price of EA had risen first and then fallen. According to the Commodity Market Analysis System of SunSirs, as of the 27th, the price of EA was 6,050.00 RMB/ton, a decrease of 0.27% compared to the price of 6,066.67 RMB/ton on August 21st. The main reason for the weak operation of EA prices was due to the decline in costs, limited support from the demand side, and bearish supply side markets.

Analysis review

Recently, the market for EA has been mainly weak. On the raw material side, the price of acetic acid has significantly decreased, which has had a negative impact on the cost side; On the supply side, the main factories in Shandong had a bearish attitude and their bidding prices continued to decline; The downstream side consumed inventory slowly, with low purchasing enthusiasm, and the impact of cost reduction on downstream market entry mentality, resulting in a poor market transaction atmosphere; 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 continued to decline, with weak cost support and insufficient upward momentum for EA; On the supply side, the prices of major factories were declining, and the mentality of industry players was bearish; The downstream side did not have a buying and selling mentality, and the enterprise consumed more inventory, resulting in weak demand performance. It is expected that the EA market will consolidate weakly in the later period, and specific attention will be paid to changes in the upstream market and downstream follow-up.

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