Bullish Support Pushes Up January Adipic Acid Prices in China

January 26th, News

According to the commodity market analysis system: The price of adipic acid in January continued to rise, with prices continuously increasing. At the beginning of January, the average market price of adipic acid in China was 7,133 CNY/ton, and by January 26th, the average market price of adipic acid in China had risen to 7,633 CNY/ton, an increase of 7.01%.

Positive support drives the January adipic acid market to continue rising.

After New Year's Day, the prices of raw materials such as pure benzene and cyclohexanone continued to rise, with cost support, and manufacturers kept increasing the factory price of adipic acid. Market transactions improved, and as the Spring Festival approached, the stocking up by the downstream nylon and polyurethane industries provided a boost. Supported by multiple positive factors, the market for adipic acid has warmed up. As of January 26, the average market price of adipic acid increased to between 7,700 and 7,900 CNY per ton, rising more than 500 CNY per ton from the beginning of the month, representing a price increase of over 7%.

The adipic acid market analyst believes: This round of adipic acid price increase is mainly driven by stockpiling. After the Spring Festival, the adipic acid market in China will face pressure to continue rising and may experience a weak decline.