Since the beginning of 2021, cost With strong support and positive supply and demand, China’s adipic acid market is on the rise as a whole, and the price of adipic acid returned to a nearly three-year high in late March. Then it started to go “downhill”, the market continued to decline, and there was no good support for the time being. However, on April 12, Saudi crude oil facilities were bombed, international crude oil prices rose, and downstream PA66 of adipic acid rose subsequently. Is this a turning point for the weak operation of adipic acid? The editor of Tiantian Chemical Network will briefly analyze the overall market situation of adipic acid for you.
Price movement
Adipic acid resumed work after the year The price has been rising all the way, reaching a peak in late March at around 11,500 yuan/ton. Due to the drop in the price of raw material pure benzene, weak support, and the weak acceptance of the current adipic acid price by the downstream demand side, the price of adipic acid began to fall from late March. As of now, the price of adipic acid is 10400 Yuan/ton-10700 yuan/ton.
Figure 1 2020-2021 domestic AA Average Price Trend
Supply and demand
The current trend of raw material pure benzene fluctuates. The market support for adipic acid is not strong, the main manufacturers of adipic acid in the market are operating at a high level, the equipment is running stably, and there is no favorable support for the supply side. Most traders hold the attitude of shipment and wait and see that the price of adipic acid continues to drop. Traders are cautiously watching the market and have no intention of stocking up. The overall downstream demand has dropped significantly, and most of them wait and see the market, waiting for the trend of the adipic acid market. Except for rigid purchases, there is no intention to make inventory. TPU, shoe materials, resins and other fields continue to wait for the price of adipic acid to fall.
Forecast
Adipic acid market supply and There is no improvement on the demand side. Saudi oil refineries were bombed by drones, and the petrochemical industry rose sharply. The main downstream PA66 of adipic acid rose, boosting the mentality of the industry. And with factors such as OPEC production cuts in the future, it is predicted that crude oil will fluctuate at a high level. However, other downstream demand is not expected to improve. According to the forecast of Tiantian Chemical Network, the market outlook of adipic acid is temporarily slow and weak, with ups and downs. In the follow-up, we will continue to pay attention to the trend of raw material pure benzene and the follow-up situation of downstream demand.
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