SunSirs: Adipic Acid Prices Fell in October

Price trend

According to the SunSirs commodity market analysis system, domestic adipic acid prices continued to weaken in October, fluctuating downward. On October 1, the average price of adipic acid in the domestic market was 7,383 RMB/ton. On October 27, the average price was 6,966 RMB/ton, a decrease of 3.24%.

Adipic acid prices continued to bottom out in October due to negative factors

Since the National Day holiday, prices for cyclohexanone and benzene, the raw materials for adipic acid, had weakened. Due to sluggish terminal demand, the adipic acid market had seen limited transactions, prompting manufacturers to lower their ex-factory prices. As a result, the adipic acid market continued to decline. As of October 14th, the price had fallen to 7,033 RMB/ton, a decrease of nearly 3%. These negative factors had pushed the adipic acid market to a low point.

In mid-October, adipic acid supply remained ample, with limited boost from raw materials, and the adipic acid market continued to decline. The mainstream market price in Shandong was around 7,000 RMB/ton, while in Jiangsu it was 6,800 RMB/ton. The domestic average price fell to 7,000 RMB/ton, a decrease of 200 RMB/ton, or nearly 3%.

At the end of October, continued supply pressure and falling raw material prices led to a continued weakening of adipic acid prices, though the downward trend slowed somewhat. Domestic adipic acid market prices remained around 6,900 RMB/ton, a drop of over 3%.

Market Forecast:

Analysts of adipic acid at SunSirs believe that as November approaches, terminal demand will increase and the adipic acid market may stop falling and rise in the future.

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