Esters Of Acetic Acid (excluding Ethyl Acetate) Prices in China
China Esters Of Acetic Acid (excluding Ethyl Acetate) Export Price in September 2022
In September 2022, the esters of acetic acid (excluding ethyl acetate) price amounted to $1,165 per ton (FOB, China), dropping by -29.6% against the previous month. In general, the export price showed a deep reduction. The growth pace was the most rapid in May 2022 an increase of 2% m-o-m. Over the period under review, the average export prices attained the peak figure at $1,970 per ton in January 2022; however, from February 2022 to September 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Russia ($1,931 per ton), while the average price for exports to Singapore ($731 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.9%), while the prices for the other major destinations experienced a decline.
China Esters Of Acetic Acid (excluding Ethyl Acetate) Exports
In September 2022, exports of esters of acetic acid (excluding ethyl acetate) from China soared to 75K tons, with an increase of 34% on the month before. The total export volume increased at an average monthly rate of +2.6% from January 2022 to September 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of esters of acetic acid (excluding ethyl acetate) declined to $88M (IndexBox estimates) in September 2022. In general, exports, however, saw a pronounced slump. The growth pace was the most rapid in May 2022 when exports increased by 28% month-to-month. As a result, the exports reached the peak of $127M. From June 2022 to September 2022, the growth of the exports of remained at a lower figure.
China Esters Of Acetic Acid (excluding Ethyl Acetate) Exports by Country
Singapore (28K tons) was the main destination for exports of esters of acetic acid (excluding ethyl acetate) from China, accounting for a 37% share of total exports. Moreover, exports of esters of acetic acid (excluding ethyl acetate) to Singapore exceeded the volume sent to the second major destination, Vietnam (8K tons), threefold. The third position in this ranking was held by India (5.9K tons), with a 7.8% share.
From January 2022 to September 2022, the average monthly rate of growth in terms of volume to Singapore amounted to +47.8%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Vietnam (-6.3% per month) and India (+2.3% per month).
In value terms, Singapore ($20M) emerged as the key foreign market for esters of acetic acid (excluding ethyl acetate) exports from China, comprising 23% of total exports. The second position in the ranking was taken by India ($8M), with a 9.2% share of total exports. It was followed by South Korea, with a 7.9% share.
From January 2022 to September 2022, the average monthly rate of growth in terms of value to Singapore totaled +22.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: India (-1.9% per month) and South Korea (-12.8% per month).
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