Ethyl Acetate Market Soars to Record Level on Back of Skyrocketing Feedstock Prices in China

摘要

Ethyl acetate has once again surged in the international market. With freight on board pricing out of China standing at around $1,500 per ton as of early October, the chemical has now surpassed the record high it previously hit earlier in the year. Market prices for ethyl acetate jumped out to $1,380 per ton this past May on the back of a recovery in demand following the peak of COVID-19, as well as due to a cut in production by major Chinese companies on account of an acetic acid shortage. The situation calmed down somewhat shortly thereafter, however, with a spate of operational restarts by acetic acid manufacturers who had suspended production due to plant troubles or scheduled maintenance. And compounded by a sense of stalling domestic demand in China, this saw ethyl acetate prices drop back down to below the $1,200 mark by August.