Price Trend

According to the data of business associations, the domestic adipic acid market has not changed much this week compared with last week. The quotations of dealers are mostly stable, and the range of increase and fall is controlled at 50-100 yuan/ton. By the end of the weekend, the quotation is generally between 8500 and 8650 yuan/ton.

II. Analytical Review

This week, adipic acid market tends to stabilize, the market continued last week’s weak market, there is still no improvement, the market performance is weak, the market atmosphere is slightly cold, distributors actively shipped mainly, adipic acid market rise and fall within 100 yuan, the market maintains a weak volatile pattern, the current downstream market wait-and-see mentality is relatively strong. Heavily, the transaction is slightly deadlocked, and there is room for business to concede profits. Social inventories are still under pressure, with shipments slightly lower than last week.

On the supply side, the market supply is stable, and the local performance is mainly excessive supply. For example, East China, and many distributors say that the inventory pressure is high, the start-up rate of the plant is high, the market inventory and the inventory of the manufacturer are rising. This week, distributors actively take goods, so there are also relatively low-cost supplies flooding the market. There is a certain bargaining space, the market price quotation and the stock price difference are still in stock. The quotations of distributors in North China, East China and South China have been adjusted to varying degrees. Most regions maintain a stable market.

In terms of demand, downstream demand is still weak, nylon 66 factories do not have centralized purchasing behavior, downstream start-up rate is still slightly insufficient, the start-up rate is basically around 50%, the upstream adipic acid did not form a strong boost, because the previous rebound basically depends on upstream pure benzol, cost-effective driving. In the passive follow-up, at present, the cost and profit are more than enough, the market gradually returns to rationality, and the market also enters the de-inventory cycle. According to the monitoring of business associations, the reference price of East China market is about 8500-8650 yuan/ton, while that of South China is generally between 8500-8700 yuan/ton.

3. Future Market Forecast

Analysts of adipic acid in Business Society Chemical Branch believe that the price performance is not satisfactory at present. The supply and demand of adipic acid are basically in a balanced pattern. Therefore, Business Society believes that adipic acid market may continue to maintain a narrow adjustment pattern in the short term.