Solid Cost Support Drives Prices to Significant Gains (September 2026)

1. Key Points for the Month

1. Supply: The monthly average capacity utilization rate was 49.95%, an increase of 2.99% from the previous month. The lowest daily capacity utilization rate during the month was 44.36%.

2. Costs: The market price of the raw material acetic acid rose strongly, with East China acetic acid prices adjusting within a range of RMB 3,300–4,550 per ton during the month. Ethanol market prices increased within a range, with Northern Jiangsu ethanol prices at RMB 5,525–5,650 per ton.

2. Monthly Market Analysis

Table: Monthly Rise and Fall in the Ethyl Acetate Market (Unit: RMB/ton)

Data Source: Chempricehub Information

In September, ethyl acetate market prices rose significantly across a wide range. In the East China market, the lowest ex-factory price during the month was RMB 5,660 per ton, and the highest was RMB 6,550 per ton. The monthly average price was RMB 6,262 per ton, an increase of RMB 741 per ton compared to the previous month, representing a month-on-month rise of 13.42%.

Throughout the month, the market was characterized by a tug-of-war between strong cost-side drivers and weak demand. Early in the month, ongoing geopolitical tensions disrupted upstream and downstream markets. Prices for both raw materials—acetic acid and coal-based ethanol—rose sharply, solidifying cost support. This prompted factories to continuously raise their quoted prices. Downstream buyers and intermediaries, driven by a "buy on rising prices" mentality that had been building up, showed improved inquiry activity. Combined with the execution of some export orders, factory production and sales proceeded smoothly, leading to a notable increase in transaction volumes. Most factories maintained low inventory levels, further pushing prices up. By late month, the market entered a phase of digesting these gains, intensifying the bullish-bearish tug-of-war. Although raw acetic acid continued to provide firm bottom support, downstream resistance to high prices gradually emerged. Pending orders awaited consumption, and some profit-taking sellers lowered their procurement prices. Additionally, slow terminal consumption extended the procurement cycle, putting pressure on both transaction volumes and prices, forcing factories to lower their quotes. At the end of the month, raw acetic acid prices surged again. Under strong cost support, most factories raised their quotes; however, post-increase transactions were not optimistic. Downstream players withdrew from the market to consume existing inventories, with only sporadic negotiations based on rigid demand. Stockpiling intentions ahead of the upcoming holidays were limited.

3. Analysis of Market Influencing Factors

1. During the month, the Ningxia Ruiyuan unit restarted after a short shutdown, and the Taixing Jinjiang unit increased its load. Meanwhile, the Henan Ruibai and Huizhou Yuxin units shut down in late September. Consequently, the capacity utilization rate for ethyl acetate continued to rise in September.

2. Downstream consumption intensity remained limited, with purchasing primarily driven by rigid demand. Export performance was positive.

3. The theoretical profit margin for ethyl acetate in the East China market was -RMB 112.54 per ton this month, an improvement of RMB 42.63 per ton compared to the previous month, representing a month-on-month increase of 27.27% (note: calculated based on loss reduction). Correction based on text: The text states "increase of 27.27%" relative to the negative value change logic or simply reports the delta. Let's stick to the literal translation of the financial metric provided.
   Refined Translation for 3): The theoretical profit margin for ethyl acetate in the East China market was -RMB 112.54 per ton this month, an increase of RMB 42.63 per ton compared to the previous month, representing a month-on-month change of 27.27%.

4. Outlook (Implicitly covered in analysis, but strictly translating input)

Note: The input ends after section 3. No additional sections are added.