Due to rising raw material costs , the price of ethyl acetate in Asia in December this year hit a 20 -month high . According to ICIS data, as of December 13 , the week, the benchmark price of ethyl acetate in Asia over the beginning of September , up 12.8% , with an average price of $ 970 ( t price , the same below ; FOB, China ) . But even so, ethyl acetate Asia still lags behind the price increases of raw materials rose , investors or extend gains .
ICIS statistics show that over the same period , the Northeast Asian region acetate materials prices rose 23.4% on December 13 to close at $ 592.5 (CFR, Northeast Asia ) ; Chinese import prices rose 35.5% methanol , 13 December closed at 525 dollars (CFR, China ) . China , a manufacturer of ethyl acetate , said : “We have no choice but to raise its offer every week , because the price of methanol and acetic acid seems unlikely to fall in the short term .” Said an importer in Northeast Asia , China vinyl acetate ester prices rising trend so long completely unexpected . In the Dec. 13 week , several manufacturers have exported ethyl acetate offer increased to 930-1010 dollars (FOB, China ) .
China is the world’s largest producer of ethyl acetate and net exporter, its export prices great impact on the surrounding area market. Celanese Corporation , said that in recent years China ethyl acetate production capacity rapidly, resulting in serious excess capacity , which in turn result in significant reduction of ethyl acetate margins. In view of this , this year China ethyl acetate capacity utilization average of less than 50% , in November it is only 47.5% , the nominal capacity of 3.43 million tons , while production was only 1.54 million tons .
The main reason for the current round of rising prices is the raw material prices. Methanol prices continue to rise and the tight supply situation in Asia is affecting production of acetic acid . In China, some acetic acid producers were forced to reduce plant operating rates . In Singapore, due to the high cost of methanol feedstock , Celanese Corporation in November has implemented its stoppage 600,000 tons / year acetic acid plant .
In addition to rising raw material costs acetic acid , the other two raw material prices also continue to rise in ethanol , ethyl acetate manufacturers make pressure doubled. It is understood that China East China ethanol prices since early October by 9.4 % on December 13 for the week to close at 6,400 yuan ( about 1,054 U.S. dollars , ex-factory price ) . Market participants generally agreed that the short term, China is likely to continue tight supply of ethanol , because in recent months some of the ethanol producers due to poor margins have cut production.
