SunSirs: The Market for EA Continued to Decline This Week

https://www.chemnet.com   Nov 05,2024 SunSirs

Price trend

This week (10.28-10.31), the domestic price of EA continued to decline. According to the Commodity Market Analysis System of SunSirs, as of the 31st, the price of EA was 5,933.33 RMB/ton, a decrease of 1.49% compared to the beginning of the week price of 6,023.33 RMB/ton. The main reason for the weak downstream demand, the decline in raw material prices, and the obvious bearish sentiment in the market led to a weak downward trend in the EA market.

Analysis review

The market for EA continued to decline this week. During the week, there was insufficient follow-up on downstream demand, causing manufacturers to block shipments and accumulate inventory. The main factory, EA, lowered its quotation, while raw material prices remained weak, resulting in a negative impact on the cost side. This transmitted to the end market and reduced downstream buying, resulting in limited actual transactions on the market and a shift in the focus of EA trading.

Market outlook

The upstream of EA continued to decline, with weak cost support and a wait-and-see attitude in the downstream. The market followed up on demand, but there was insufficient support for EA. Manufacturers' shipments were not smooth, inventory pressure continued to increase, and there was a lack of favorable conditions in the market. It is expected that the price of EA will be weakly consolidated in the short term. Specific attention should be paid to changes in the upstream market and downstream follow-up.

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