SunSirs: After the Holiday, Raw Materials Went Down and Stearic Acid Oscillated
May 15 2024 14:42:59 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 11th, the price of stearic acid was 8,875 RMB/ton, a decrease of 75 RMB/ton from the previous working day, a decrease of 0.84%, and an increase of 100 RMB/ton from last week, an increase of 1.14%, with an overall narrow range consolidation. As of May 10th, the mainstream market price of stearic acid (domestically produced, 1840) was around 9,200-8,500 RMB/ton; The mainstream market price for stearic acid (imported brand, 1801) was around 9,900-9,000 RMB/ton.
Analysis review
Cost side: After the May Day holiday, domestic palm oil futures were boosted by the external market and saw a rebound, with the spot market following suit. Due to the lackluster demand for terminal oil consumption, the palm oil futures market experienced a correction after rebounding. This week, the spot price of palm oil fluctuated downward, with the average market price dropping to 7,770 RMB/ton, a decrease of nearly 2%.
Demand side: According to the commodity market analysis system of SunSirs, as of May 11th, the mainstream price of PVC was 5,610 RMB/ton, an increase of 54 RMB/ton or 0.97% compared to the previous week. After the holiday, some pre maintenance factories began to resume production, with sufficient inventory and weak downstream.
Market outlook
The upstream palm oil market was oscillating downward, with weak costs support for stearic acid. In addition, downstream demand side confidence was not high, but the terminal mentality was relatively cautious, making it difficult for transactions to improve significantly. There were dual bearish factors, and it is expected that the spot market for stearic acid will experience a slight decline in the short term.
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