Price trend
According to the business data analysis system of SunSirs, the price of adipic acid continued to rise throughout January, with prices steadily increasing. At the beginning of January, the average market price of adipic acid was 7,133 RMB/ton, and by January 26th, the average market price had risen to 7,633 RMB/ton, an increase of 7.01%.
Supported by positive factors, the price of adipic acid continued to rise in January
Following the New Year holiday, the prices of raw materials benzene and cyclohexanone continued to rise, providing cost support. Manufacturers continuously increased the ex-factory prices of adipic acid, leading to improved market transactions. As the Spring Festival approaching, increased stocking by downstream nylon and polyurethane industries further boosted demand. Supported by multiple positive factors, the adipic acid market rebounded. As of January 26th, the average market price of adipic acid rose to 7,700-7,900 RMB/ton, an increase of over 500 RMB/ton compared to the beginning of the month, representing a rise of over 7%.
Market outlook
According to analysts at SunSirs, the recent rise in adipic acid prices was primarily driven by inventory building. After the Spring Festival, the upward momentum in adipic acid prices is expected to face pressure, and a weak downward trend may follow.
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