Price trend
According to the SunSirs' commodity market analysis system, the price of adipic acid has been steadily rising since the New Year. At the beginning of the month, the average market price of adipic acid was 7,133 RMB/ton, and on January 22nd, the average market price reached 7,466 RMB/ton, representing a price increase of 4.67%.
Driven by rising raw material prices, the price of adipic acid was steadily increasing
Following the New Year holiday, the prices of adipic acid raw materials, benzene and cyclohexanone, continued to rise. Increased demand from the downstream nylon industry boosted the market, leading manufacturers to repeatedly raise ex-factory prices for adipic acid. Market transactions improved, and prices steadily increased, with a rise of nearly 5%. As of January 22nd, the average domestic market price for adipic acid was around 7,500 RMB/ton, an increase of 300 RMB/ton.
Market outlook
According to SunSirs' adipic acid analyst, end-users were purchasing on an as-needed basis, and the adipic acid market lacded sufficient momentum for continued price increases in the future, potentially leading to a weak downward trend.
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