Texas (US): Throughout the current week, Ethyl Acetate prices in the US market have remained steady, influenced by the lack of strong cost support from its primary feedstock, Acetic Acid, which has consistently maintained its pricing. The 5.5% high-interest rate has contributed to a decrease in consumers' purchasing power in downstream industries. Additionally, production costs have stayed low due to a decline in Natural Gas prices, indicating slow market transactions. International demand remains subdued, resulting in lower prices due to abundant inventories. Fortunately, there have been no significant disruptions in the supply chain reported this week.

Forecasts indicate an upcoming increase in Ethyl Acetate prices in the US market, driven by the rising costs of Ethyl Acetate's feedstock, Acetic Acid. Expectations also suggest strong demand from the downstream industry, particularly in the construction sector, fuelled by an improved economic outlook. Anticipated restocking activities are likely to contribute to a boost in Ethyl Acetate's inventory prices in the domestic market.

In the German market, the pricing of Ethyl Acetate has maintained stability throughout the current week, primarily influenced by reduced demand from downstream industries, especially those associated with Ethyl Acetate, widely used in the construction sector. Import prices from China have also remained constant, increasing cost pressures, and leading to lower prices for Chinese imports. Importantly, no significant disruptions in the supply chain have been reported this week.

Future projections indicate a sustained and robust demand from downstream industries, particularly in the construction sector, where Ethyl Acetate plays a significant role, driven by an improved economic outlook. Expectations also include restocking activities contributing to an increase in inventory prices in the domestic market. Moreover, the existing high-interest rate, set at 4.5%, remains a constraint on the purchasing power of consumers in the Ethyl Acetate downstream industry. Anticipations indicate that, with improved economic conditions, demand from the downstream industry, particularly in the construction sector, is likely to see an increase.

After a disappointing year in 2023, European Ethyl Acetate prices are expected to strengthen in 2024. In terms of supply dynamics, Ethyl Acetate plants have maintained a consistent operational rate, fuelled by ongoing demand from downstream industries. Furthermore, the Purchasing Managers' Index (PMI) value has consistently stayed below 50, signifying a contraction in the manufacturing sector. Regarding demand, there is a significant decrease in interest from downstream industries, particularly in construction. Moreover, there is an expectation of a robust upswing in the Ethyl Acetate downstream construction industry, anticipated to begin in Q1 2024.