Raw Material Market Pressures Lead to Lower Adipic Acid Prices in China

November 21, news

According to the commodity market analysis system: Since November, bearish factors have persisted, and the adipic acid market in China has continued to weaken. On November 1st, the average market price of adipic acid was 6,966 CNY/ton. By November 21st, the average market price of adipic acid in China had dropped to 6,766 CNY/ton, a decrease of 2.87%.

Raw material market pressure leads to a weaker adipic acid market in China.

Since November, the market for cyclohexanone and pure benzene, which are raw materials for adipic acid, has been weak, providing limited support. With a decline in terminal rigid demand, transactions in the adipic acid market have decreased, and manufacturers' factory prices have fallen, leading to a weakening of the adipic acid market. As of November 21, the mainstream quotation in the Shandong region is around 6,800 CNY/ton, while in the Jiangsu region, it is 6,700 CNY/ton. The average price in the Chinese market has dropped to 6,700 CNY/ton, with a decrease of 100 CNY/ton, representing a price decrease of nearly 3%.

Adipic acid analysts believe: By the end of November, the rigid demand from terminal industries in China is weak, and the raw material market lacks momentum for a price increase, indicating that the adipic acid market will continue to weaken.