SunSirs: Demand Had Not Rebounded yet, and the Atmosphere of the Resorcinol Market Was Stable
April 18 2024 13:58:04 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 17th, the average market price of resorcinol was 44,750 RMB/ton. The price remained unchanged from last week.
Analysis review
Pure benzene: The price of pure benzene in China had slightly decreased this week. On April 17th, the price of pure benzene was 8,707 RMB/ton, a decrease of 0.15% from last week. The trading volume in the petroleum benzene market was flat, and holders were reluctant to sell at a low level. Demand side continued to be bearish, leading to differences in negotiations. On April 17th, some manufacturers had raised their prices, and the price of pure benzene had stabilized at a high level.
Nitric acid: The domestic price of nitric acid had increased this week. On April 17th, the price of nitric acid was 1,693 RMB/ton, an increase of 3.54% compared to last week. The rise in upstream liquid ammonia prices supported the rise in nitric acid prices.
M-phenylenediamine: The domestic price of m-phenylenediamine remained stable this week. On April 17th, the price of phenylenediamine remained unchanged at 3,600 RMB/ton compared to last week.
Market outlook
The purchasing intensity of resorcinol on the demand side was average this week. Downstream tire production was temporarily stable, maintaining essential support. There had been no significant increase in demand for dyes, pesticide intermediates, and other products. It is expected that the market for resorcinol will temporarily stabilize.
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