Texas (US): In the last weeks of December 2023, Ethyl Acetate prices in the US and German markets have demonstrated stability, albeit with distinct underlying causes. In the US, the price steadiness is attributed to insufficient cost support from Methanol, the primary feedstock. Nonetheless, demand from the construction sector has remained robust. Furthermore, the PMI value for the US market as of December was stated at 47.90, indicating contraction in the manufacturing sector. Concurrently, elevated inventories in the market have contributed to the overall stability of Ethyl Acetate prices. Moreover, the stability in Natural Gas prices has tempered market expansion. On the global front, subdued demand has resulted in diminished international inquiries for Ethyl Acetate, contributing to an overall decrease in market activity.

In the German market, the Ethyl Acetate market has also shown stability in pricing. This development was due to a high level of inventories in the market. Furthermore, from the Chinese market, the prices of imports were on the weaker side. After a few operations failures in China, the plants are returning to their normal operational state, thus leading to an overall high level of inventories in the Chinese domestic market, in turn leading to lower prices of Ethyl Acetate imports. Amid weak performance from the downstream construction industry, as high-interest rates continue to subdue the purchasing power of downstream industries' consumers. Additionally, the prices of Natural Gas have remained stable, leading to stability in the prices of LNG, resulting in constant production costs.

According to the ChemAnalyst Database, divergent price trends are anticipated for the Ethyl Acetate markets in the US and Germany in January. In the US, heightened activity is expected after the initial week, driven by increased demand from downstream sectors, particularly the construction industry. The envisaged rise in Natural Gas prices is poised to contribute to an overall upswing in Ethyl Acetate prices during January. In contrast, Germany is expected to experience contrasting trends, characterized by the sustained impact of high-interest rates on the purchasing power of consumers in downstream industries. Natural Gas prices are anticipated to remain stable, resulting in constant LNG prices and production costs. Additionally, the holiday season is foreseen to lead to reduced market transactions and downstream inquiries. Despite the likelihood of increased import prices from China, a key Ethyl Acetate exporter to Germany, economic uncertainty and diminished market activity may lead to an overall decline in Ethyl Acetate prices. However, both markets are expected to undergo an upward trajectory in February, aligning with similar trends in the Ethyl Acetate market.