Price trend

According to the commodity analysis system of SunSirs, in December, the raw material market weakened, demand was weak, and the domestic adipic acid market fluctuated and fell. On December 1st, the average market price of adipic acid was 8,300 RMB/ton, and on December 31st, the average market price of adipic acid was 8,100 RMB/ton, a decrease of 2.41%.

Negative led to a volatile decline in the adipic acid market in December

At the beginning of December, the domestic adipic acid market continued to rise. Mainly due to the rising prices of upstream raw materials such as benzene and cyclohexanone, the cost has increased, and the demand for purchasing adipic acid from end-users has increased. With the strong bullish sentiment of adipic acid manufacturers and multiple bullish factors supporting it, the adipic acid market continued to rise, with prices rising. The mainstream market price was 8,500-8,600 RMB/ton, and the market was recovering.

In mid month, the domestic adipic acid market continued to decline weakly. Mainly due to the weakening of upstream raw materials such as benzene and cyclohexanone, limited support for cost increases, and weak demand for adipic acid procurement from end-users. In addition to the oversupply in the adipic acid market and the combination of multiple negative factors, the adipic acid market continued to decline weakly, with the mainstream market price ranging from 8,100-8,400 RMB/ton, indicating a weak market trend.

At the end of the month, the domestic adipic acid market continued to weaken. The main reason was that the upstream raw material benzene and cyclohexanone had poor market conditions, with limited cost boosting effect, and the terminal demand for adipic acid procurement was average. Due to the ongoing supply pressure in the adipic acid market and the dominance of negative factors, the adipic acid market continued to weaken, with mainstream market prices ranging from 8,100-8,200 RMB/ton, and the market was weakly stabilizing.

Market outlook

The adipic acid analyst from SunSirs believes that the raw material market was weakening and the terminal demand was not good, so the adipic acid market will continue to weaken in January.

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