Ethyl acetate: poor demand, market may be loose

After the May Day holiday, the market price of ethyl acetate rose sharply, hitting a new high over the years. In the mentality of buying up but not buying down, the downstream has high enthusiasm for inquiry and procurement, the overall transaction atmosphere of the market is acceptable, and the inventory of downstream and traders increases.

In terms of raw materials, although the acetic acid plant has been shut down or will be shut down more recently, the traders have a large inventory, the market supply is not tight, the price of acetic acid is strong, and the cost support is still there.

After early replenishment, the downstream purchasing power gradually declined, the overall demand was poor, and the market transaction atmosphere was light. However, the factory has a strong willingness to support the price, and continuously limited shipments. The market atmosphere is relatively stalemate, and the upstream and downstream are more cautious. On May 16, the main factories in Shandong suddenly auctioned for inventory sales, and the offer price was slightly lower. Most factories offered to follow the adjustment, the market was loosened, and the focus of negotiation continued to decline.

On the whole, although the main factories have been shut down for maintenance, and the resources in the yard have been reduced, the downstream replenishment is relatively sufficient in the early stage, and now it is mostly in the stage of digestion and consolidation. It is expected that the short-term ethyl acetate Market may be stable in the middle and down, and in the later stage, we will continue to pay attention to the changes in raw material prices and downstream demand.