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SunSirs: The Market for Stearic Acid Had Slightly Increased This Week
January 29 2024 10:18:18SunSirs(John)

Price trend

This week, the domestic stearic acid market saw a slight increase. According to data monitoring by SunSirs, the benchmark price of domestic stearic acid mixture was 8,290 RMB/ton on January 26th, with a price increase or decrease of 1.08% compared to the beginning of the month.

Analysis review

The raw material palm oil and external soybean market had risen, supported by the Malaysian palm oil market. In addition, with the launch of the terminal oil stocking market before the Spring Festival, market transactions have improved and sales have increased. Supported by multiple bullish factors, the palm oil market had ushered in an upward trend. As of January 24th, the average price of palm oil in the market has risen to 7,586 RMB/ton, an increase of over 3%. In terms of demand, the overall load of downstream plastic and rubber industries was stable, and the operating rate of the terminal steel tire industry was stable. However, the market demand was weak, and the inventory of the steel tire industry was loose. To alleviate inventory pressure, it is expected that the operating situation of the steel tire industry will decrease next week.

Market outlook

The market for stearic acid had slightly increased this week. The palm oil market on the raw material end was experiencing an upward trend, and downstream plastic and rubber enterprises 2ere basically maintaining production as the main source of goods. Overall, the support for raw materials was still strong, with sufficient on-site inventory and downstream on-demand procurement. The market for stearic acid may continue to remain stagnant in the future.

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