Price trend
According to the monitoring of the bulk data of SunSirs, the EA market rose at a high level due to the weak downstream market demand. As of December 18, the average price of enterprises in East China was around 7,375 RMB/ton, a decrease of 1.34% from the beginning of the week and an increase of 7.94%from the beginning of the month.
Analysis review
This week, the domestic EA market declined weakly, the spot supply in the market was stable, and the downstream market received poor goods. Most of them were small orders. The market was bearish. In addition, the price of raw material acetic acid continued to decline. The market was full of bearish atmosphere. As of the 18th, the price of EA in East China was around 7,400 RMB/ton, the price of EA in North China was around 720 RMB/ton, and that in South China was around 7,700 RMB/ton.
In terms of raw materials, the acetic acid market was weak and the market supply was still tight. However, the downstream market was mostly based on digesting early-stage contracts, and there was obvious resistance to the high price of acetic acid. The overhaul of Yankuang's installations approaching the weekend eased the market weakness to a certain extent. The ethyl alcohol market was volatile and adjusted, some companies were overhauled, and the supply side was well supported. The price of raw material corn continued to be high. The demand for downstream liquor was mainly for just-needed purchases. As of the 18th, ethyl alcohol in East China was about 6,962 RMB/ton.
The international market price of EA fluctuated and adjusted. The current port price in the European market is around 1,350—1,520 Euro/ton; the port price in the North American market is around 780 US dollars/ton.
Market outlook
The EA analyst of SunSirs believes that the current situation of domestic EA companies is not good. In order to prevent excessive market pressure, companies are forced to cut prices. The recent decline in acetic acid prices has led to insufficient cost support, and the industry is bearish. The EA market is expected to operate weakly in a short period of time.
