Negative Pressure Weighs on Adipic Acid Market, Driving Prices Down

November 05, News

According to the commodity market analysis system: At the beginning of November, multiple bearish factors were still present, and the adipic acid market in China declined. On November 1, the average market price of adipic acid was 6,966 CNY/ton, and on November 5, the average market price of adipic acid in China was 6,933 CNY/ton, a decrease of 0.48%.

Bearish pressure drives down adipic acid prices in China

In early November, the market for cyclohexanone and pure benzene, the raw materials for adipic acid, was weak. Due to poor rigid demand from the end-users, the trading in the adipic acid market was average, and the factory prices of manufacturers fell. The market trend for adipic acid continued to weaken. As of November 5th, the mainstream quotation in the Shandong region was around 6,900 CNY/ton, and in the Jiangsu region, it was 6,700 CNY/ton. The average price in the Chinese market dropped to 6,900 CNY/ton, a decrease of 100 CNY/ton.

Adipic acid analysts believe: In mid-November, the rigid demand from end-user industries in China has declined, and the raw material market has weakened, making it difficult for the adipic acid market to rise in the future.