Ethyl Acetate Prices Remain Lacklustre in Europe and Asia, Prices Strengthen in the US
- 22-Jun-2023 3:36 PM
- Journalist: Harold Finch
Texas (USA): In the first week of June, there was a mixed market sentiment for Ethyl Acetate across the globe due to variable market fundamentals. Asia Pacific market has been witnessing stability in demand, while the underwhelming performance of the construction industry has a heavy bearing on the European market. Meanwhile, the US market has witnessed improvement in Ethyl Acetate prices.
In the German market, Ethyl Acetate prices are declining due to lowering demand from the downstream construction industry amid rising inventory levels in the spot market. Additionally, there was a stable flow of inventories from the Asian Market, such as China, to the German buyers. Furthermore, economic uncertainties and rising inflation is curbing the purchasing power of downstream industry consumer. In Addition, there has been a decline in Natural Gas prices, causing a lowering of input production costs. Moreover, the upstream feedstock prices of Acetic Acid have declined, which created an overall pessimistic market view.
In the US market, there was a bullish trend for Ethyl Acetate as the demand from the downstream industry, like construction, was increasing amid insufficient inventory levels. Furthermore, there has been an increase in production cost as prices of Natural Gas in the US market increased. Moreover, the plants were operating at a stable rate to meet the demand from the downstream industry. Additionally, there were bullish market sentiments, so there was the procurement of large orders in the Ethyl Acetate market in the US.
There was a bearish market trend in the Chinese market as the Ethyl Acetate prices slightly declined. This was due to the decline in prices of downstream feedstock Acetic Acid. Furthermore, like the European industry trend, there has been a decline in the paints & coating industry in China. Additionally, there was a high inventory level in the market as there was wait-and-watch sentiment, so buyers were hesitant to place high-volume orders.
As per the ChemAnalyst database, “The prices of Ethyl Acetate in the European market are likely to witness a bullish trend in the upcoming months as demand from the downstream industries is likely to increase amid rising input production cost as natural gas anticipated to increment. Similarly, in the US market, prices of Ethyl Acetate are likely to increment amid rising economic stability and rising demand from the downstream construction industry. Additionally, the prices of Ethyl Acetate in China are likely to increase, causing import prices from the Asian market to Europe to rise substantially in the upcoming months.”