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SunSirs: Demand Was Difficult to Boost and Salicylic Acid Prices Was Weak and Stable in July

August 05 2020 14:54:12     SunSirs (John)

Price trend

According to the monitoring data by SunSirs, on July 31, the average price of salicylic acid (industrial grade) mainstream manufacturers was 14,666.67 RMB/ton, which was the same as the price at the beginning of the month and dropped by 4.35% from the beginning of the year. The market for salicylic acid is weak and stable recently.

Analysis review

In July, the salicylic acid market continued its weak and stable operation. Entering the off-season, consumption was difficult to boost, downstream companies’ inquiries were declining, and uncertainty in the international environment was still increasing. China’s salicylic acid is mainly exported, sales pressure has always existed, new orders are not high, and the market transaction atmosphere is not high. Some salicylic acid manufacturers are still not operating at full capacity, sales are under pressure and prices are lowered slightly. As of August 3, the price of Zhenjiang Maoyuan Chemical's industrial grade salicylic acid was 15,000 RMB/ton, and the price remained stable. The price of Hebei Jingye Chemical's industrial grade salicylic acid was 14,000 RMB/ton, and the price remained stable. the price of Xinhua Longxin's industrial grade salicylic acid was around 15,000 RMB/ton, and the ex-factory price of methyl salicylate was around 23,800 RMB/ton, and the price remained stable. The price of Yanying Chemical's industrial-grade salicylic acid was around 12,000 RMB/ton, and the price was stable, while Henan Diduao's industrial-grade salicylic acid was 14,000 RMB/ton. Sale at a profit, the actual transaction was mainly negotiated.

In July, the domestic phenol market first depressed and then rose, and the overall decline was mainly. From the perspective of the business community, in August, the current operating rate of phenol plants across the country has entered a high level of operation. At the end of August, Sinopec Mitsui's phenol ketone plant will also resume operation. Although some port shipping schedules have been delayed, it is expected to arrive at warehouses to replenish port inventory in the short term, and the factory will enter August to implement new contracts. However, the demand side is difficult to improve significantly, and the overall downstream boom is not high. The short-term phenol market is expected to be more negative than good. The East China phenol market is expected to continue to decline in early August, and the East China price is expected to be 5,400 RMB/ton.

Market outlook

The salicylic acid analyst of SunSirs believes that demand in the off-season in July is sluggish, downstream inquiries have declined, there are not many new orders, and the market transaction atmosphere is general. It is expected that the trend will continue to be weak and stable in the short term, or will be slightly reduced.

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