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SunSirs: Demand Improved, Salicylic Acid Market Rose Slightly (October 19-23)

October 23 2020 14:15:16     SunSirs (John)

Price trend

According to the data monitored by SunSirs, on October 23, the average price of salicylic acid (industrial grade) mainstream manufacturers was 13,500 RMB/ton, up 2.53% from the beginning of the week, up 2.53% from the previous week, and down 11.96% from the beginning of the year.

Analysis review   

The market for salicylic acid rose slightly last week, with little price change. At present, traders report that transactions have improved, their enthusiasm for obtaining goods has increased, merchants have become more optimistic, the load on the market has increased, some manufacturers have been operating at full capacity, the price of raw phenol has risen, cost support is acceptable, and the market has recovered. As of October 23, the quotations of industrial grade salicylic acid are mostly in the range of 10,000-15,000 RMB/ton, and the prices are stable; the quotations of pharmaceutical grade are mostly in the range of 23,000-25,000 RMB/ton, and the prices are stable; the quotations of sublimation grade are mostly in the range of 15,000-20,000 RMB/ton, the prices are stable, and the actual transaction is mainly negotiated.

On the 22nd, the domestic phenol market continued to be weak. There were still traders in the market who were profitable and actively selling goods. The downstream just needed to follow up and actively replenish the goods. The willingness to stock up has yet to be released. Holders were still under pressure to sell their goods. There was a little profitability under the condition of following the market, but there was not much room for profitability under cost pressure. Looking back this year, the phenol market has been stumbling forward in a stalemate. Seeing that Golden September and Silver October are about to pass, market participants have been under pressure.

Market outlook

The salicylic acid analyst of SunSirs believes that: at present, traders report that the transaction is improving, the enthusiasm for obtaining goods is improved, the merchants are optimistic, and the cost side support is acceptable, the market is picking up, and the trend of salicylic acid is expected to be relatively stable in the short term.

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

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