Price trend

According to the Commodity Market Analysis System of SunSirs, as of May 23, the average market price of resorcinol was 44,825 RMB/ton, an increase of 0.17% from last week.

Analysis review

Pure benzene: The price of pure benzene in China had increased this week. On May 23rd, the price of pure benzene was 8,833 RMB/ton, an increase of 1.04% from last week. The domestic supply of pure benzene had decreased, driven by the styrene market, downstream transactions had been more active, and port destocking had accelerated. Short-term spot shortages are difficult to change.

Nitric acid: Domestic nitric acid prices had decreased this week. On May 23, the price of nitric acid was 1,866 RMB/ton, and on May 16, it was 1,913 RMB/ton, a decrease of 2.45% from last week. As of May 23rd, the supply side of the concentrated nitric acid market was sufficient, and the cost trend had slightly increased. The market transactions were mainly based on orders, and the market transaction situation was poor.

Phenylenediamine: The price of meta phenylenediamine in China had decreased this week. On May 23rd, the price of phenylenediamine was 38,433 RMB/ton, a decrease of 0.43% from last week. The downstream epoxy resin followed up on demand, with limited trading volume. The textile industry had entered the traditional off-season, and the demand for dyes was not optimistic.

Market outlook

This week, the atmosphere of the resorcinol market had rebounded and the trend was upward. From a cost perspective, the increase in pure benzene and nitric acid in the early stage still provided support for resorcinol. From the demand side, the downstream resin industry was experiencing a narrow upward trend. It is expected that the resorcinol market will operate steadily.

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