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SunSirs: The Domestic Adipic Acid Market Remained Stable on August 27

August 28 2020 15:23:11     SunSirs (John)

On August 27, approaching the weekend, the domestic price of adipic acid went smoothly. The manufacturer’s quotation was temporarily stable, the device maintained a normal operating rate, about 80%, and the inventory pressure was obvious. The market was in a state of oversupply, downstream demand was weak, and the off-season effectwas still there. Cost side: Since late August, pure benzene has declined slightly by nearly 1%. After experiencing the upward market in late July, pure benzene is currently undergoing a phased correction, which is insufficient to support downstream adipic acid.

In terms of local markets:

The market of adipic acid in East China was weak and stable. The market price has risen and fallen slightly with a limited range, and there were not many market inquiries. Downstream demand was weak, most dealers followed the market, giving priority to profits, manufacturers’ inventory pressure was average, and transactions were deserted. Today's mainstream prices in the market are: Shandong's acceptance price of 6,400-6,600 RMB/ton, and Jiangsu's acceptance price of 6,500-6,700 RMB/ton. The downstream was mostly based on rigid demand purchases.

The market situation of adipic acid in South China has not changed much compared with the beginning of the week. Market transactions were generally inactive. Distributors generally gave priority to selling goods. Manufacturers’ inventory pressure was still high and transactions were average. n the 27th, the mainstream market prices were: Shandong source acceptance price of 6,500-6700 RMB/ton, Jiangsu source acceptance price of 6,600-6,800 RMB/ton, and the downstream mainly focused on rigid demand purchases.

Market outlook

Looking at this week, adipic acid is suffering from supply pressure and weak demand. It may remain weak. The price rises and falls weakly, does not rule out the possibility that prices continue to fall.

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