Raw Material Support Drives Uptick in Adipic Acid Prices

December 16th, according to reports

According to the commodity market analysis system, since December 8, bullish factors have supported an improvement in the Chinese adipic acid market. On December 1, the average market price of adipic acid was 6,733 CNY/ton. By December 16, the average market price of adipic acid in China had risen to 6,833 CNY/ton, an increase of 1.49%.

Supported by raw material prices, China's adipic acid market is improving.

Since December, the prices of raw materials for adipic acid, including cyclohexanone and pure benzene, have remained firm and at high levels, supporting the rise in adipic acid prices. With an increase in rigid demand from end-users, the market transactions for adipic acid have improved, and manufacturers have gradually raised their factory prices. The adipic acid market has shown signs of recovery. As of December 16th, the mainstream quotations in the Shandong region were around 6900-7000 CNY/ton, with an overall increase of 100 CNY/ton. In the Jiangsu region, the mainstream quotation was 6800 CNY/ton, also with a 100 CNY/ton price increase. The average price in the Chinese market fell to 6800 CNY/ton, with a price increase of over 1%.

Adipic acid analysts believe that in the latter part of December, as the rigid demand from terminal industries gradually recovers and with support from raw material prices, the adipic acid market in China is expected to continue rising.