Ethyl Acetate Prices steady amid adequate supply to meet Downstream Demand

Texas (USA): In the USA, Ethyl Acetate prices have remained steady this week, primarily due to sufficient inventory levels within the US market. This has prompted sellers to offer inventories at reduced market rates. Methanex's monthly contract pricing has noted an increase in Ethyl Acetate prices in the Chinese market. Additionally, a Purchasing Managers' Index (PMI) exceeding 50 further signifies expansion within the manufacturing sector. With increased demand from the downstream construction sector, inquiries from Acetate industries have risen.

Additionally, production costs have stayed low as Europe exits its heating season, resulting in reduced demand for Natural gas from the continent. Nationally, data on construction sector employment, covering both residential and non-residential construction. Furthermore, there are expectations of Ethyl Acetate price hikes due to rising Crude oil prices and increased demand from downstream sectors like Acetate. Additionally, Natural gas prices are anticipated to remain elevated amidst global economic recovery, leading to higher production costs.

Furthermore, there is anticipation of Ethyl Acetate price increases due to rising demand from downstream sectors like Construction. Additionally, it is expected that Natural gas prices will remain elevated amidst global economic recovery, leading to higher Ethyl Acetate production costs. Currently, domestic Ethyl Acetate plants are operating at optimal levels to meet both domestic and international downstream demand. This has resulted in sufficient Ethyl Acetate inventories in the market, which has dampened the growth of the Ethyl Acetate market.

However, Ethyl Acetate feedstock Acetic Acid prices have shown a downward trend this month as per the ChemAnalyst Database, leading to lower production costs. Initially, the Ethyl Acetate feedstock Acetic Acid market experienced a decline, followed by a subsequent increase; however, the overall value remained negative compared to the previous month. The focus was on maintaining necessary procurement amid firm downstream demand and a strong market, leading to an increase in the Ethyl Acetate feedstock Acetic Acid market thus leading to higher production cost.

During this month, there was a notable rise in Ethyl Acetate prices, propelled by heightened demand from the construction sector, resulting in increased inquiries.  The Bureau of Labor Statistics (BLS) reported a nationwide increase in nonfarm payroll employment for February, following a positive trend in January. This growth was geographically widespread, with job gains occurring in most states and the District of Columbia. Texas emerged as the national leader in job creation, followed by Illinois and Michigan. However, seven states experienced job losses, with Florida exhibiting the most significant decline. Notably, Iowa recorded the highest percentage increase in employment, while North Dakota witnessed the steepest decrease compared to January.