SunSirs: Raw Materials Were Rising, and the Adipic Acid Market Continued to Rise in January

Price trend

According to the Commodity Market Analysis System of SunSirs, in January, the domestic adipic acid market continued to rise, with prices increasing by over 3%. On January 1st, the average price of adipic acid in the domestic market was 8,100 RMB/ton. On January 22nd, the average price of adipic acid in the domestic market was 8,366 RMB/ton, with a price increase of 3.29%.

Raw materials were rising, and the adipic acid market continued to rise in January

After New Year's Day, the demand for purchasing adipic acid from some terminals increased, and the raw material market stopped falling and stabilized. Supported by bullish factors, traders have raised the price of adipic acid one after another, and the adipic acid market has rebounded. The market transactions were still acceptable, and the volume of goods has increased. As of January 10th, the domestic market price of adipic acid has risen to around 8,100 RMB/ton.

In mid month, the prices of raw materials benzene and cyclohexanone continued to rise, supported by costs. The domestic adipic acid market continued to rise, with prices exceeding 8,300 RMB/ton, an increase of nearly 3% compared to the beginning of the month.

At the end of the month, as the Spring Festival approaching, the market for adipic acid gradually stabilized and continued to operate at a high level, with an average market price of around 8,300-8,600 RMB/ton.

Market outlook

An analyst from SunSirs believes that after the Spring Festival, the supply of adipic acid will be loose, and the terminal demand will be average. The upward trend is difficult to sustain, and it may mainly lead to a weak downward trend.

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