This week (may 16-20), domestic ethyl acetate reversed the previous rising trend, and the price fell back. According to the statistics of the business agency, the decline this week was 2.74%, mainly due to the stop rise and fall of the upstream raw material acetic acid, the normalization of the start-up of main factories, the increase of supply, the impact on the market mentality, and the weakness of downstream demand. At the weekend, the price of ethyl acetate was in the range of 8700-8900 yuan / ton.

First of all, from the perspective of cost, the price of domestic acetic acid stopped rising and stabilized this week. According to the monitoring of business society, the weekly decline of acetic acid this week was 0.20%. Due to the sharp increase in the price of Huayi devices in Guangxi in the early stage, the supply pressure in the downstream market was obviously relieved due to the sharp increase in the price of Huayi devices. However, after the price of acetic acid stabilized, there was no obvious downward trend, mainly due to the support of downstream demand, and the expected overhaul of large acetic acid plants boosted the price. Overall, the high cost effect of acetic acid still supports the downstream ethyl ester, and the decline of ethyl ester may slow down due to the impact of high cost.

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, the price performance is weak, and the curve is close, indicating that the profits of downstream ethyl acetate enterprises are compressed.

In addition, from the perspective of ethyl acetate supply, the ethyl acetate plant in Shandong is still under maintenance this week, and the Celanese plant has not been restored. Therefore, the market is divided, and the market in North China is stronger than that in East and South China. Most units of manufacturers in East and South China operate normally and supply is relatively abundant. Therefore, the price of ethyl acetate decreases significantly, with a range of around 300 yuan. The main large factories in Shandong maintained normal operation. This week, manufacturers generally reduced the ex factory price by about 300 yuan / ton. At present, the inventory pressure of manufacturers is obvious, mainly reducing the price and arranging the inventory, but the market expectation turns weak. At present, ethyl acetate gradually forms a situation of oversupply.

On the demand side, dealers and downstream factories have weak purchase intention this week, mainly with small orders and low-end prices. East China was generally affected by national public health events, which dragged down market transactions and restrained some demand. However, the markets in South China and North China just need general support. However, there is not much new demand, and demand is still an important reason to restrict and suppress the market.

In the future, the ethyl acetate analysts of business society believe that the domestic ethyl acetate Market may continue to maintain a relatively high level in the short term, mainly due to the supporting role of cost. However, due to the compression of downstream profits, future demand may be further restrained. Therefore, ethyl acetate also has a certain callback risk. It is suggested that the market should treat the future market with caution.