SunSirs: The price of EA showed a Weak Downward Trend in October

https://www.chemnet.com   Nov 04,2024 SunSirs

Market trend

In October, the market for EA showed a weak downward trend. According to the Commodity Market Analysis System of SunSirs, as of October 31, the average production price of EA was 5,933.33 RMB/ton, a decrease of 133.34 RMB/ton compared to the beginning of the month price of 6,066.67 RMB/ton, with an overall decline of 2.20%. The main reason for the decrease in EA prices was due to insufficient demand support, weak market trading, a decline in raw material prices, and a bearish attitude from suppliers..

Supply side was tightened

This month, the market price of EA continued to decline. Returning from the National Day holiday, due to an increase in downstream replenishment demand and a positive market boost, the price of EA had slightly increased; Afterwards, as demand weakened, the trading atmosphere in the market was poor, and manufacturers' shipments were not smooth, leading to a decrease in quotes from major factories. At the same time, the upstream raw material market was weak and weak, with a negative cost outlook, and prices were transmitted to the end market, resulting in sluggish downstream buying sentiment and continuous decline in ethyl ester prices.

According to the SunSirs’ Acetic Acid Commodity Market Analysis System, as of October 31st, the price was 2,850 RMB/ton, a decrease of 12.31% compared to the acetic acid price of 3,250 RMB/ton at the beginning of the month. The raw material side acetic acid market continued to decline, with weak cost support, which had a negative impact on EA.

Market outlook

As of October 31st, the price of EA continued to decline, and downstream purchases followed up according to demand. The price of raw material acetic acid was weak, which provided insufficient support for the EA market and lacks market benefits. It is expected that the EA market will continue to operate weakly in the future. It is recommended to pay attention to the price execution of raw material acetic acid and EA manufacturers.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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