SunSirs: The Price of Adipic Acid in East China Continued to Decline This Week

https://www.chemnet.com   Mar 19,2024 SunSirs

　　This week (3.11-15), the performance of adipic acid in East China was weak, with prices on Friday dropping by 100-200 RMB/ton compared to the beginning of the week. According to the commodity market analysis system of SunSirs, the weekly decline of adipic acid was 1.41%.

　　Analysis review

　　The price of raw material pure benzene has shown a sluggish performance, with the main decline continuing this week, and the cost performance being weak. From the perspective of supply and demand, the market performance showed that supply exceeded demand. As of March 15th, the supplier's equipment was mainly operating normally, and the demand side could not follow up in a timely manner, and the digestion of raw material adipic acid was insufficient. It resulted in a backlog of inventory in the factory, leading to continuous loosening of quotations in order to ship. The actual transaction was not satisfactory. The mainstream market prices are: 9,650-9,750 RMB/ton for Shandong sources and 9,750-9,850 RMB/ton for Jiangsu sources.

　　Market outlook

　　SunSirs predicts that in the short term, there will still be pressure on the supply and demand of adipic acid, and the operating rate of enterprises is relatively high. It is expected that the price of adipic acid will continue to be weak in the near future, and it is not ruled out that the price may continue to decline.

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