In May, the focus of domestic ethyl acetate trading was significantly improved, and the price continued to rise in the first ten days. In the middle and last ten days, with the demand difficult to follow up, it stabilized after a slight drop. According to the statistics of the business agency, the growth rate this month was 6.0%, mainly due to the sharp rise of raw material acetic acid and the rising cost. Downstream ethyl ester manufacturers frequently raised the ex factory price. Superimposed on the overhaul of main plants in Shandong, the supply of goods was relatively scarce, but the downstream demand had not been substantially improved, and the price of ethyl ester finally stopped rising and stabilized. At the end of the month, the price of ethyl acetate was in the range of 8700-8900 yuan / ton.

First of all, from the perspective of cost, acetic acid rose sharply after the holiday. According to the monitoring of business club, since May 1, as of May 31, acetic acid has increased by 29.34%. As some factories were on the verge of loss before the festival, the supply of factories decreased significantly due to continuous load reduction, and the price increase mode was started after the festival. In the month, several units were overhauled or reduced in load at different times. At the beginning of the month, Nanjing Ineos and Hebei Jiantao units were overhauled. In the late days of the month, Shandong Yankuang 1million / T acetic acid unit was shut down for overhaul. The market supply decreased, adding to Celanese’s overhaul expectations. The market supply was outstanding. The quoted prices of enterprises have been raised, mainly by regions. The high cost is the main reason for the high price of ethyl acetate.

From the above figure, the price comparison chart of acetic acid and ethyl acetate shows that they basically maintain the same trend, but the rise and fall of acetic acid is more obvious, the price of downstream ethyl ester is weak, and the opening of the curve is expanded, indicating that the profits of downstream ethyl ester enterprises are obviously compressed.

In addition, from the perspective of ethyl acetate supply, the operating rate of ethyl acetate in May was lower than that in April. At present, the operating rate of the industry is less than 60%. Due to the equipment maintenance of major plants in Shandong and the limited supply in North China, the price in North China remains high. The market price once rose above 9200 yuan. Most large factories in South China and East China generally reduce production load, and the supply side remains relatively tight.

From the demand side, the purchase intention of the distributors and downstream factories has maintained a reasonable level this month. Part of the demand stimulated by the price rise. However, as prices climbed to a high level, downstream procurement slowed down gradually. Especially in the latter ten days, the downstream replenishment season ended, and the purchase intention between dealers and downstream factories slowed down. Most transactions were based on small orders and low-end prices. Affected by the parking of large factories in East China, the downstream just needs to be maintained, and the market still shows tight supply. However, the South China and North China markets are abundant, but the new demand is not much. In short, demand is still an important reason to restrict and restrain the market.