SunSirs: Adipic Acid Market Continued to Decline (August 12-16)

https://www.chemnet.com   Aug 20,2024 SunSirs

Price trend                               

On August 16th, the domestic adipic acid market continued to be sluggish. According to the Commodity Market Analysis System of SunSirs, as of August 16th, adipic acid was 9,250 RMB/ton, a decrease of 75 RMB/ton or 0.85% from last week.

Analysis review

Cost side:

The price of raw material pure benzene had slightly increased, with some cost support. The average price of cyclohexanone in the domestic market had dropped from 9,406 RMB/ton to 9,325 RMB/ton, a decrease of 0.86% during the cycle. Downstream demand was weak, and the domestic cyclohexanone market was experiencing a weak downward trend, resulting in a lower focus on transactions.

Supply side:

From the perspective of market supply, in terms of equipment, the operating load of adipic acid this week was around 6.8%, and the operating load of adipic acid decreased compared to last week. The main manufacturers were raising prices, and there may be expectations of price reductions in the future due to inventory pressure. Due to weak demand, the manufacturer's shipment speed had slowed down. As of August 16th, there was a lack of favorable guidance on the supply side.

Market outlook

An analyst from SunSirs believes that the price of pure benzene in the upstream had rebounded and the price of cyclohexanone was still declining. There was a long short game on the cost side, and downstream demand in the market was still in an inactive stage. It is expected that the domestic adipic acid market will mainly operate to be weaker in the short term.

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