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SunSirs: In mid February, the Market for Stearic Acid Was Volatile and Stronger
February 27 2024 14:05:00SunSirs(John)

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the price of stearic acid was 8,450 RMB/ton after the Spring Festival, and before the Spring Festival, the price of stearic acid was 8,400 RMB/ton, an increase of 50 RMB/ton, an increase of 0.6% compared to before the Spring Festival and 2.8% compared to January 1st. Since 2024, the price of stearic acid had been fluctuating and rising.

Analysis review

Cost side: After the Spring Festival, the palm oil market first rose and then fell. February 21st was the highest point of palm oil prices this week at 7,590 RMB/ton, and then fell. As of February 23rd, palm oil prices were 7,490 RMB/ton, with a 3.74% increase this week.

Demand side: The downstream PVC spot market price was gradually increasing, with a price of 5,566 RMB/ton on February 18th and 5,580 RMB/ton on February 23rd, an increase of 0.25%. PVC entered the inventory accumulation period in mid February, and after the Spring Festival, factories resumed work on a large scale, with a rapid increase in operating rates. After the Spring Festival, the terminal steel tire industry started construction one after another, with a load rate of more than 60% for the semi steel tire industry and more than 50% for the full steel tire industry. Some steel tire enterprises were still parking their equipment, and it is expected that the start-up situation of the equipment will increase next week.

Market outlook

After the Spring Festival, the price of stearic acid showed a fluctuating upward trend, with upstream palm oil experiencing a fluctuating increase of 3.74%. Strong support had been provided from the cost of stearic acid, and downstream PVC had entered a period of inventory accumulation, with factories resuming work on a large scale. However, there was a large inventory of stearic acid on site and sufficient supply. It is expected that the market for stearic acid will be volatile and stronger in the near future.

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