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SunSirs: The Salicylic Acid Market Ran Smoothly This Week (October 26-30)

November 03 2020 13:47:29     SunSirs (John)

Price trend

According to the price monitoring of SunSirs, on October 30, the average price of salicylic acid (industrial grade) mainstream manufacturers was 13,500 RMB/ton, which was unchanged from the beginning of the week, up 2.53% from the previous month, and down 11.96% from the beginning of the year.

Analysis review

The salicylic acid market has been running smoothly this week and there has been no wave of waves. Recently, the salicylic acid market sentiment has recovered, downstream inquiry enthusiasm has increased, traders' enthusiasm for hoarding goods has improved, and the trading atmosphere has improved. Manufacturers start at mid-to-high levels, sales pressure is not great, and their mentality is relatively calm, and the market remains stable in the short term. As of October 30, the quotations of industrial grade salicylic acid were mostly in the range of 10,000-15,000 RMB/ton, and the price was stable; the quotations of pharmaceutical grade were mostly in the range of 23,000-25,000 RMB/ton, and the price was stable; the quotations of salicylic acid sublimation grades were mostly in the range of 15,000-20,000 RMB/ton, and the prices remained stable. Actual transactions were mainly negotiated.

The upstream phenol market has been fluctuating within a range, and the overall trend has been rising first and then falling. The overall negotiation atmosphere on the market is light and trading is deserted. According to the monitoring data of SunSirs, the average price of the national phenol market rose from 5,487 RMB/ton at the beginning of the month to 5,950 RMB/ton in the middle of the month. The market fell to 5,587 RMB/ton near the end of the month, and the current offer in East China fell down 5,500 RMB/ton. Offers in Shandong and other northern China regions continued to be high, but market transactions wre few. Southern China was slightly higher, and downstream buying was still dominated by rigid demand.

Market outlook

The salicylic acid analyst of SunSirs believes that the current salicylic acid market sentiment is picking up, downstream enquiry enthusiasm has improved, the trading atmosphere has improved, the sales pressure of manufacturers is not large, the mentality is relatively calm, and the market is still trending in the short term.

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