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SunSirs: The Market for Stearic Acid Showed a Trend of First Falling and Then Rising
February 01 2024 10:26:13SunSirs(John)

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the stearic acid market showed a trend of first falling and then rising this month. The domestic average price of stearic acid was 8,220 RMB/ton on January 1, and 8,370 RMB/ton on January 31, with a price increase of 1.82% during the period.

Analysis review

Cost side: After New Year's Day, the palm oil market had declined one after another, and after the decline, it had rebounded one after another, mainly oscillating upwards. As the Spring Festival approaching, the stocking market for terminal catering enterprises had started, with demand supporting, and the palm oil market continued to rise. Malaysian palm oil in the external market was in a period of reduced production, with bullish support and a significant increase in palm oil prices.

Demand side: Downstream PVC spot market prices first fell and then rose, and overall prices fell. In the first half of this month, the spot market price of PVC fell. The enthusiasm for market inquiries was average, and market transactions ere light. In the middle of the month, the trading situation was average. In the latter half of the month, the spot market stopped falling and rose, and the futures market experienced four consecutive rises, driving confidence in the spot market and improving the trading atmosphere. PVC maintenance had gradually resumed, and the operating rate had increased compared to December. In mid to early January, the load rate of the domestic semi steel tire industry was around 78%, while the load rate of the full steel tire industry was around 62%. But as the Spring Festival approaching, some steel tire companies will start their holidays in late January, but some steel tire companies are still operating at high loads to prepare for post holiday shipments.

Market outlook

This month, the stearic acid market showed a trend of first falling and then rising. After the price of raw palm fell, it rebounded and began to fluctuate and rise. Therefore, it had provided favorable support for the cost of stearic acid. Although the downstream device load had increased compared to December, the on-site inventory was loose, and the market purchased stearic acid spot on demand. Overall, it is expected that the market for stearic acid will mainly fluctuate in the later stage.

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