SunSirs: The Resorcinol Market Was Stable This Week

Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 13th, the average market price of resorcinol was 44,500 RMB/ton, which was unchanged from last week.

Analysis review

Pure benzene: The price of pure benzene in China had slightly increased this week. On March 13th, the price of pure benzene was 8,492.17 RMB/ton, an increase of 2.99% from last week and 16.19% from the same period last year. The negotiations and transactions for pure benzene in the East China market were positive, but the operators were concerned about the subsequent downstream maintenance situation. The sellers were bullish on the future market and their willingness to ship decreased.

Nitric acid: The domestic price of nitric acid had slightly decreased this week. On March 6th, the price of nitric acid was 1,860 RMB/ton, and on March 13th, it was 1,833 RMB/ton, a decrease of 1.45% from last week and 28.3% from the same period last year. As of March 13th, market transactions were weak and lacked positive support. Industry insiders mainly relied on inquiries, and it will take time for transactions to recover.

Meta phenylenediamine: The price of meta phenylenediamine had slightly increased this week. On March 13th, the price of meta phenylenediamine was 37,166.67 RMB/ton, an increase of 2.76% compared to last week. The performance of the raw material market was strong, with strong cost support and downstream inventory procurement plans.

Market outlook

This week, the resorcinol market was temporarily stable, with limited cost support and hindered trading by traders. Downstream factories had limited purchasing power, with primary demand for essential goods. The overall entry of terminal factories into the market had slowed down, and trading had declined. The resorcinol market continues to consolidate and operate, and the subsequent market situation needs to pay attention to cost fluctuations.

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