SunSirs: This Week, the Market for Stearic Acid Continued to Rise
March 26 2024 14:53:10 SunSirs (John)
Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the mainstream price of stearic acid in China was 8,650 RMB/ton on March 22, an increase of 1.14% compared to the week, an increase of 2.37% compared to March 1, and an increase of 5.23% compared to January. The price of stearic acid had continued to rise this week.
Analysis review
Cost side: Palm oil prices had slightly fallen and rebounded this week, while crude oil prices had also shown a stable trend. The combined effect of these two factors had enabled palm oil to successfully break through this year's highest price point.
Demand side: PVC spot market prices continued to rise this week. The significant increase in futures prices had boosted confidence in the spot market, with most manufacturers raising prices and distributors following suit, making it difficult to find low prices in the market. As of March 22, the quotation for PVC SG5 was mostly around 5,450-5,790 RMB/ton.
The production of stearic acid was not high this week, with a production rate of around 44%. The price of palm oil, a raw material, had risen strongly to its highest point this year, leading to increased costs and rising factory prices of stearic acid. Although downstream PVC prices had risen, they had shown some resistance towards high priced raw material sources. As of March 22, there were still sources of goods arriving at the port through import channels, so the overall performance in terms of supply was relatively abundant.
Market outlook
SunSirs’ analysts believe that if palm oil prices continue to rise, the market for stearic acid will also rise with the tide.
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- 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
- 2024-03-19 SunSirs: Recently, the Market for Stearic Acid Had Steadily Risen
