This week, the domestic adipic acid market was mainly stable. After the correction of adipic acid Market in early April, it is mainly stable at present. The price of adipic acid this week was basically the same as last week. Most dealers quoted at a reasonable level. There were not many high quotations, and some of them sold at a profit. This week, the adipic acid plant maintained a normal operating rate of about 80-90%, and the inventory pressure of manufacturers increased slightly compared with that at the beginning of this month. In the short term, it is still in the process of destocking, the downstream demand is general, and the dealers' delivery is generally lower than the level in early April.
Cost side: the price of pure benzene went up this week, and the increase was relatively strong. According to the monitoring of SunSirs, the price of pure benzene increased by 7.6% this week, but the boosting effect on downstream adipic acid was weakened. As the profits of adipic acid manufacturers were still in a reasonable range, the factors influencing the price of adipic acid were more focused on downstream demand, but the weak demand led to the weak rise and fall of adipic acid.
Demand side: from the perspective of downstream PA66 of adipic acid, according to the monitoring of SunSirs, the market of PA66 continued to decline in April, with a monthly decline of 4.08% as of the 23rd. The weak downstream demand had obvious impact on adipic acid.
In terms of local markets: The market of adipic acid in East China was stable, and there was generally room for profit. The on-the-spot inquiries were normal, the high price transactions were few, and most of them wait and see. At present, there are not many high price sources in the market, the manufacturers' inventory pressure is general, the shipment is normal, and some dealers are reluctant to sell. The main market price on the 23rd was: Shandong source price 10,800-11,000 RMB/ton, Jiangsu source price 11,000-11,200 RMB/ton.
Adipic acid in South China is currently stabilizing, and dealers often offer profit-making offers. Manufacturers are under general inventory pressure and gradually shift to dealers’ inventory. The mainstream market prices on the 23rd are: Shandong source price 11,000-11,200 RMB/ton, Jiangsu source price 11,200-11,400 RMB/ton, the downstream is mostly based on just-needed purchases.
In the future, the market supply pressure of adipic acid may rise in the later stage, mainly due to the increase of shipping pressure of enterprises, the slowdown of downstream procurement, and the high price may lead to the accumulation of storage. It is expected that adipic acid will continue to maintain a low market, and the upward momentum is relatively weak.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.