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SunSirs: The Domestic Adipic Acid Market Fell by More Than 8% in May
May 31 2021 14:29:25SunSirs(John)

Adipic acid market trend

In May, the domestic price of adipic acid fell sharply, and the market continued its downward trend in April. After experiencing a high and topping market in March, as domestic adipic acid was affected by increased supply pressure and relatively weak demand, the price lost support and gradually lowed. According to the monitoring of SunSirs, adipic acid in East China fell by 8.23% throughout May, and the cumulative decline in the last two months has exceeded 12%. At the end of May, the price of adipic acid was in the range of 10,000-10,200 RMB/ton.

From the perspective of market supply, in May, adipic acid maintained a relatively high operating rate, and companies gradually accumulated inventory, and inventory pressure was greater. As the market entered the off-season, the speed of sales decreased significantly, and it became inevitable for companies to reduce prices and destock. From the dealer's point of view, when the market was high in the first quarter, dealers hoarded a large amount of supply. In April and May, the market turned down, and the holders mainly destocked, which further forced companies to lower prices to sell goods.

Pure benzene market trend

In terms of cost, the price of pure benzene dropped rapidly in mid-to-late May. According to the monitoring of SunSirs, from May 15 to 28, pure benzene fell by 8.14%, and the cost support weakened, causing the price of adipic acid to fall.

PA66 market trend

In terms of downstream demand, from the perspective of PA66 downstream of adipic acid, PA66 continued its downward trend in April and continued to fall. The terminal demand was sluggish, resulting in little improvement in the entire industry. According to the monitoring of SunSirs, as of the 28th, the monthly decline was 3.04%.

Market outlook

In the later stage, SunSirs believes that the current supply pressure of adipic acid is still relatively large, the destocking time may be lengthened, the price is likely to fall but difficult to rise, and the market supply pressure in the later stage is difficult to alleviate in the short term. It is mainly due to the increase in the pressure of enterprise shipments and the slowdown in downstream procurement. It is expected that adipic acid may continue to adjust, and the possibility of continued downward movement of the range is not ruled out.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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