According to customs data, China's adipic acid (AA) imports in February 2023 were only 357 tons, the lowest value since January 2017; A decrease of 69.46%, a year-on-year decrease of 15.67%; the import value was US$976,000, and the average price was US$2,736/ton.
Figure 1 2022-2023 China AA monthly export statistics (unit: tons)
In terms of specific regions, South Korea, Japan, and Italy are the three countries with the largest imports of adipic acid in China, accounting for 160 tons, 75 tons and 56 tons respectively. tons, of which Italy had the strongest year-on-year growth rate, up 209% from the same period last year. The largest import and export province of adipic acid in China is Guangdong Province, and the largest send and receive area is East China.
Table 1 China's AA importing countries, import volume and year-on-year growth rate in February 2023
The decline in adipic acid imports is closely related to the weakness in downstream demand. As the main downstream of adipic acid, the market for PU slurry and shoe sole solution has been weak recently, and there are differences in equipment load among suppliers in the field. The average operating rate is only 45%, and the ability of the terminal downstream to digest products is not good; the rest of the downstream All industries are also insufficient to follow up, and the operating rate is between 20% and 60%. Moreover, the maintenance season of many adipic acid manufacturers has passed, and the supply in the domestic market has increased, resulting in an imbalance between supply and demand.
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