February Adipic Acid Market Fluctuates and Rises in China

February 28 news

According to the commodity market analysis system: In February, the adipic acid market in China continued to rise, with prices steadily increasing. At the beginning of February, the average market price of adipic acid was 80,663 CNY/ton, and by February 28, the average market price of adipic acid was 8,300 CNY/ton, representing a price increase of 2.89%.

It seems there might be a typo or misunderstanding in the original text regarding the price figures. The translation is based on the provided information, but please verify the numbers for accuracy.

Bullish factors remain; the adipic acid market continued to rise in February.

In early February, crude oil prices surged, and the prices of raw materials for adipic acid, such as pure benzene and cyclohexanone, remained consistently high. With the Spring Festival approaching, the demand for nylon stockpiling increased, leading to a strong sentiment among manufacturers that prices would rise. As a result, the price of adipic acid continued to climb, with an increase in market transactions and a steady rise in the overall market. The price increase over five days exceeded 3%. By February 5th, the average market price of adipic acid in China was around 8,333 CNY per ton, with a price increase of 300 CNY per ton.

After the Spring Festival, the boost to the adipic acid raw material market was limited, and terminal demand declined. After a rise in the adipic acid market, prices were gradually reduced. As of February 28, the average market price of adipic acid was 8,300 CNY/ton, with a decrease of 200 CNY/ton. In February, the overall adipic acid market increased by nearly 3%.

The adipic acid market analyst believes: As terminal demand gradually improves in March, the adipic acid market in China may stop falling and welcome a rising trend.