Bearish Factors Dominate, Adipic Acid Prices Decline

November 12, News

According to the commodity market analysis system, since November, bearish factors have dominated, leading to a continuous decline in the Chinese adipic acid market. On November 1, the average market price of adipic acid was 6,966 CNY/ton. By November 12, the average market price of adipic acid in China had dropped to 6,866 CNY/ton, a decrease of 1.44%.

Negative factors pile up as China's adipic acid market continues to decline.

Since November, the prices of cyclohexanone and pure benzene, which are raw materials for adipic acid, have weakened. Due to poor rigid demand from the terminal market, transactions in the adipic acid market have declined, and manufacturers have lowered their factory prices. The adipic acid market continues to weaken. As of November 12, the mainstream quotation in the Shandong region is around 6,800 CNY/ton, and in the Jiangsu region, it is 6,700 CNY/ton. The average price in the Chinese market has fallen to 6,800 CNY/ton, a decrease of 200 CNY/ton from the beginning of the month, with a price decrease exceeding 1%.

Adipic acid analysts believe: By the end of November, rigid demand from terminal industries in China is poor, and the raw material market is weak. The adipic acid market is expected to continue its downward trend.