SunSirs: The Market for Stearic Acid Was Gradually Heating Up (March 4-8)
March 12 2024 14:57:31 SunSirs (John)
Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the average price of stearic acid 1840 this week was around 8,510 RMB/ton, an increase of 110 RMB/ton compared to before the Spring Festival, with a growth rate of 1.67%. The price of imported stearic acid in Indonesia ranged from 9,500 RMB/ton to 8,200 RMB/ton.
Analysis review
Cost side: In early March, the palm oil market fluctuated and rose by more than 1%, with an average palm oil market price of 7,842 RMB/ton. The estimate for Malaysian palm oil production in the external market had been lowered, with bullish factors still present. There is still room for an upward trend in the palm oil market in the future. Overall, the cost side provided relatively strong support for the spot market.
Demand side: The PVC spot market prices continued to rise this week. The average market price of PVC was 5632 RMB/ton, a month on month increase of 0.42%. This week, the load rate of the PVC industry was higher than 80%, with an increase in PVC export orders. This week, the industry load rate of steel tire enterprises continued to increase, with a load rate of over 78% for the semi steel tire industry and less than 70% for the full steel tire industry.
Market outlook
Analysts from SunSirs believe that the upward trend in the upstream palm oil market this week had provided strong support for the cost side. The downstream PVC operating rate was at a high level, and the terminal steel tire industry operating rate had also increased, which was a favorable factor for the stearic acid market. Overall, the market for stearic acid was gradually heating up, and it is expected that the stearic acid market will operate steadily and tend to be stronger in the short term.
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- 2024-04-22 SunSirs: The Stearic Acid Market Was Operating Steadily This Week
- 2024-04-15 SunSirs: The Stearic Acid Market Had Calmed Down This Week
- 2024-04-08 SunSirs: The Price of Stearic Acid had Slightly Declined This Week
- 2024-04-02 SunSirs: There Were Signs of a Pullback after the Price of Stearic Acid Continued to Rise in March
- 2024-03-26 SunSirs: This Week, the Market for Stearic Acid Continued to Rise
