In March, the butyl acetate market experienced a slight decline, with the trading center moving down by around 100 yuan compared to the previous month. According to monitoring by Business News, the monthly decline of butyl acetate was 1.52%. Although the cost side shows that the prices of acetic acid and n-butanol have rebounded to varying degrees, they are double suppressed by prominent supply pressure and relatively weak demand.
Market analysis: Most of the quotes from major manufacturers remained stable this month, and the operating rate of enterprises has not changed much compared to last month. Overall, it remains at 40-50%, but due to oversupply, enterprises are still in the process of accumulating inventory, and supply and demand remain in a weak balance. The price of raw material acetic acid rebounded, mainly due to the release of the shutdown news of Hebei Jiantao Plant, resulting in a decrease in acetic acid supply. In the latter half of the year, due to the weak market, acetic acid failed to continue its upward trend. The price of another raw material, n-butanol, has increased by 9.5% on a monthly basis. The cost of butyl ester is mixed, and the positive side of the cost has not driven the market for butyl ester. On the one hand, it is difficult to increase the transaction volume due to the fact that downstream suppliers often purchase on demand, and manufacturers often take and use as needed. Furthermore, export orders fell short of expectations, making it difficult to boost overall social demand.
Future forecast: It is expected that the butyl ester market will maintain a weak and volatile pattern in the short term. It is recommended to pay attention to the operation status of raw material acetic acid, n-butanol, and butyl acetate manufacturers. At present, the mainstream transaction price in the market is between 7200 to 7400 yuan/ton.
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