This week (June 13-17), the domestic ethyl acetate continued to decline. According to the statistics of the business agency, the decline this week was 2.33%, mainly because the raw material acetic acid fell sharply, major manufacturers lowered prices one after another, and the retail prices of major factories in Shandong continued to fall, which dampened market confidence, the market turnover was average, affecting the market mentality, and the downstream demand was weak. At the weekend, the price of ethyl acetate was in the range of 8200-8400 yuan / ton.
Azodicarbonamide (AC foaming Agent) |
First of all, from the perspective of cost, the domestic acetic acid fell sharply this week. According to the monitoring of business agency, the price of acetic acid fell as much as 23.9%. Although the operating rate of acetic acid is not high, and the inventory of upstream factories is low, the overall sales pressure is not great, but due to the weak overall demand of downstream factories, the willingness of downstream factories to purchase is poor. It is also when acetic acid is pulled to a relatively high point, and the downstream resistance is increasing, so the high callback risk is intensified.
From the above figure, the price comparison chart of acetic acid and ethyl acetate shows that they basically maintain the same trend, but the decline of acetic acid is more obvious, and the price of downstream ethyl acetate is relatively strong. At present, the curve is close, indicating that the profit of downstream ethyl acetate enterprises is expected to improve.
In addition, from the perspective of ethyl acetate supply, the operating rate of ethyl acetate was stable this week, and the operating rate was flat last week. At present, the operating rate of the industry is roughly 60%. The main large factories in Shandong maintained normal operation. This week, most manufacturers generally lowered their ex factory prices by about 200 yuan / ton. The manufacturer reduced the price and arranged the warehouse, dampening the market confidence. Some manufacturers in South China have reduced their production load. At present, the inventory pressure of the manufacturers is obvious, and the market expectation is weak. At present, the supply of ethyl acetate exceeds the demand.
Melamine |
From the demand side, the downstream procurement generally slowed down. This week, the purchase intention of dealers and downstream factories was weak, and the downstream orders contracted, resulting in a significant slowdown in the delivery speed. There are few transactions in the market. At present, the market mainly deals at the low-end price of small orders. In addition to some downstream stocking demand, the overall market demand remains depressed.
In the future, the ethyl acetate analysts of the business club believe that the raw material acetic acid has retreated significantly, and the cost is obviously bad. It is also difficult to see much in the supply and demand side. Transactions at the low end of the market are better than those at the high end. Therefore, it is expected that ethyl acetate may still have downward space.
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