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SunSirs: The Market Trend of Stearic Acid Had Risen Narrowly
January 23 2024 11:37:09SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, as of January 19th, the main quote of the stearic acid market was around 8,250 RMB/ton, an increase of 70 RMB/ton from January 12th, and a month on month increase of 0.84%.

Analysis review

Raw palm oil: According to the commodity market analysis system of SunSirs, on January 19th, the average market price of palm oil was 7,424 RMB/ton, an increase of 2.12% compared to January 11th. The domestic palm oil market had returned to an upward trend. Due to the expected decrease in Malaysian palm oil inventory data, the Malaysian palm oil futures market had risen for several consecutive days.

In terms of demand, the load rate of the terminal semi steel tire industry was around 78%, and the load rate of the all steel tire industry was around 62%, with an increase in steel tire load rates. The demand for raw materials had slightly rebounded. However, due to the upcoming Spring Festival, the installation of the steel tire industry may be temporarily suspended, resulting in sufficient inventory of steel tires.

Market outlook

SunSirs’ analysts believe that the cost of stearic acid was rising, but the demand was weak. It is expected that stearic acid will fluctuate and consolidate in the short term.

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