Adipic Acid Market Was Firm This Week (Aug 18-24, 2017)

Review: The cyclohexanone market went up this week. The benzene market fluctuated marginally. Sinopec declined the posted prices to RMB 6,250/mt, and the dealing prices were around this posted price. The demand for cyclohexanone from the fiber market was strong, and producers held high offers. Traders operated flexibly. Up to September 21, the prices for cyclohexanone in Shandong were in the range of RMB 10,900-11,100/mt, up RMB 590/mt. Prices were in the range of RMB 11,000-11,200/mt in East China, which increased RMB 590/mt from last week.

Forecast: The benzene prices will be largely stable and the support to cyclohexanone will be stable. The demand for cyclohexanone will be firm next week before the National Day holiday. It is predicted that the cyclohexanone market will hover at highs next week.