SunSirs: Under the Pressure of Negative Factors, the Market for Adipic Acid Had Weakened and Fallen

Price trend

According to monitoring data from F, the domestic adipic acid market has weakened overall since November, with a slight decline. On November 1st, the average market price of adipic acid was 8,666 RMB/ton. On November 11th, the average market price of adipic acid was 8,600 RMB/ton, a decrease of 0.77%.

Under the dominance of bearish sentiment, the rise of adipic acid market was weak

At the beginning of November, the domestic adipic acid market continued to declined weakly. The main reason was that the upstream raw materials, benzene and cyclohexanone, have both experienced weak declines in the market, and there is insufficient driving force for cost increases, resulting in average demand for adipic acid procurement from end-users. Combined with the loose supply of adipic acid itself and multiple negative factors, the rebound of adipic acid market was weak, and weak downward trend was the main trend. The mainstream market price was 8,400-8,600 RMB/ton, and the market was running weakly.

Market outlook

An analyst from SunSirs believes that negative factors were still present, and in the short term, the adipic acid market is unlikely to have upward momentum and will continue to weaken.

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