Glacial Acetic Acid and Acetate Esters Industry Weekly Report

Glacial acetic acid price situation
This week, the glacial acetic acid capacity utilization rate gradually decreased, and the factory shipment sentiment was better than last week. At the beginning of the week, the company's inventory fluctuated slightly, but as the factory gradually overhauled and the shipping sentiment of the northwest enterprises improved, the company's inventory gradually decreased, so the factories in the north and central China pushed up the operation in a narrow range; in the east and south China regions, due to the relatively high local contracts and the influence of the Sino-US tariff game, some terminal export orders stagnated slightly, affecting some downstream stocking mentality, so the market was mostly stable.

Analysis of glacial acetic acid inventory
As of April 7, the inventory of domestic acetic acid enterprises this week was 170,700 tons, a month-on-month increase of 1.07%.
During this period, the inventory of glacial acetic acid fluctuated, with an overall narrow increase. The factory prices in the Northwest region were low, and traders and downstream companies gradually replenished stocks on demand. The overall shipment level was good, and the inventory dropped significantly. In the central China region, the inventory rose slightly due to the factory maintenance plan. In other regions, the inventory rose slightly as the downstream factories gradually carried out maintenance. Longzhong Information predicts that the inventory of glacial acetic acid may rise slightly in the next period.

Ethyl acetate situation
This week, the market price of ethyl acetate adjusted narrowly. The lowest price in the East China market during the week was 5195 yuan/ton ex-factory, and the highest price was 5225 yuan/ton ex-factory. The weekly average price was 5208 yuan/ton, down 22 yuan/ton from last week, and down 0.42 percentage points from the previous month.
At the beginning of the week, the market price of ethyl acetate was mostly stable, among which the price of raw material acetic acid was stable, and the cost was generally supported by the market. Traders and downstream companies mostly purchased according to the market. Although some units had maintenance plans, the follow-up efforts of downstream companies and traders were limited. Some operators were in a wait-and-see atmosphere, waiting for the supply side to become clearer. Then the main factory unit in Shandong was shut down for maintenance as scheduled, but the news boost was limited. The enthusiasm of downstream companies to enter the market was less than market expectations. The macroeconomic policy was dominated by bearishness, which continued to suppress the market mentality and had a certain drag on the terminal demand side. The inventory of some factories was still under pressure, and the trading atmosphere in various places was different. The factory side gave priority to shipment.
Next week, some units will be under maintenance, and upstream factories may have a significant market support performance. However, there are concerns about the mentality of industry players and downstream demand. The macroeconomic policy is obviously negative, which affects the enthusiasm of downstream customers to receive goods. Short-term demand has not improved significantly. Longzhong predicts that the market price of ethyl acetate may run in a weak range next week.

Butyl acetate situation
This week, the market price of butyl acetate fluctuated within a range. The lowest price in the East China market during the week was 6,250 yuan/ton, the highest price was 6,350 yuan/ton, and the average price was 6,288 yuan/ton, down 22 yuan/ton from last week, down 0.35 percentage points from the previous month.
The beginning of the week coincided with the Qingming Festival. During the holiday, the mainstream equipment in Shandong was shut down for maintenance as scheduled. The supply side boosted the market transaction price to rise. The downstream chasing sentiment was still acceptable, and the low-price buying volume was significantly increased. Then the supply side was gradually consumed. At the same time, considering that the current market supply is sufficient, the supply-demand gap has not been significantly repaired, and the substantial support is very limited. The downstream is unwilling to continue to follow the rise. After the staged buying, most of the industry has withdrawn from the market to digest the inventory. Subsequently, the macro policy negatives flooded the market, and there was a certain concern about terminal demand. At the same time, the center of gravity of the raw material n-butanol went down, and both cost and demand were negative. The pressure on factory shipments increased significantly. Under its shipment demand, the previous gains were given up.
There is an expectation of recovery for some plants in South China next week. The domestic supply side is sufficient, while the downstream demand is weak. The impact of macroeconomic policies is significant, which has a significant impact on the market sentiment. The raw materials acetic acid and n-butanol are expected to fluctuate slightly. There is no clear guidance on the market in terms of cost. There are some factors in the market. Longzhong expects that the butyl acetate market will continue to adjust in a weak range next week.