SunSirs: The Stearic Acid Market Was Narrowly Consolidated (May 12-17)
May 23 2024 10:36:09 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 17th, the price of stearic acid was 8,875 RMB/ton, a decrease of 75 RMB/ton or 0.84% compared to last week, and an increase of 100 RMB/ton or 1.14% compared to May 1st, with an overall narrow range consolidation. As of May 10th, the mainstream market price for 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: At the beginning of the week, the average price of palm oil in the market was 7,770 RMB/ton, and on the weekend, the average price of palm oil in the market was 7,884 RMB/ton, an increase of 1.47%. The palm oil market was mainly on the rise. Due to the increasing production cycle of Malay palm oil, palm oil experienced a pullback after rising. Long and short intertwined, the palm oil market fluctuated and rose overall, with gains exceeding 1%.
Supply and demand side: PVC spot market prices had risen this week. On Monday, the average domestic PVC price was 5,604 RMB/ton, and on Saturday it was 5,714 RMB/ton. The price increased by 1.96% during the week. PVC futures prices had risen, and downstream spot prices had risen one after another, increasing the enthusiasm for inquiry and procurement.
Market outlook
As of May 17th, the overall domestic market for stearic acid was undergoing a narrow consolidation. On the cost side, palm oil had fluctuated, but overall the market was rising, with positive support; The operating rate of stearic acid was around 63%, and production was stable. Stearic acid inventory was lush. As of May 17th, stearic acid was operating at a high level with almost zero profit. The downstream demand side had improved. It is expected that the short-term market for stearic acid will be mainly volatile.
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