In April, the ethyl acetate market in China went down, with a slight rebound near the end of the month. At the beginning of the month, the domestic ethyl acetate market continued to decline. First, the supply pressure continued to increase. Due to the high bank pressure in East China, some companies reduced their shipments, such as Baichuan, Jinjiang, etc., and the Hailian device was stopped due to expansion afterwards. The intention of shipping companies in the north is also high, and the shipments of the Kim Yimeng device have improved, but the price is hard to increase. In addition, the amount of shipping in the north decreased in the first half of the month due to the abundant supply in southern China, the early-stage price decline was rapid, and arbitrage with the North was limited. The second reason is that the terminal lacks buying momentum. Under the conditions of falling prices within the month, the industry does not buy or buy, and maintains a small amount of just needed. The third is that raw materials, acetic acid and ethanol, continued to decline in the first half of the year and there was no good support on the cost side. At the end of the month, the market that continued to decline abruptly reversed. After a period of previous declines, ethyl acetate hit the cost line, the end of raw materials acetic acid at the end of the month due to more export orders, price increases, taking into account the cost side, ethyl acetate prices rebounded.
Forecast and Outlook
The domestic ethyl acetate market is expected to oscillate in May. At present, it is intertwined, and the trend of the raw material acetic acid in the later period is not yet clear, but due to the limited profits of the current ethyl ester production, changes in raw materials will be sensitive to the market price. The overall supply and demand side of ethyl acetate is still expected to be poor, and the terminal will usher in the off-season and it will be difficult to improve. The northern ethyl enterprise has a high inventory, and in early May in southern China, there will be a large number of shipments arrived. Henan Haofei Chemical believes that the market price will follow the changes in raw materials in early May.