Adipic acid market is weak and stable. It may not improve in the near future

Adipic acid market trend chart

According to the data of the business club’s bulk list, this week (6.8-12), there is no big domestic adipic acid market, and the price is basically the same as last week. According to the data monitored by the business club, the rise and fall of adipic acid in East China is 0, the market demand is still weak, and the supply is relatively abundant. The prices of some dealers keep rising and falling within 100 yuan. Most manufacturers are still short of the future market and light of inventory operation. According to the business club Currently, the quotation range of adipic acid market is 6600-6900 yuan / ton.

In terms of market supply, the operating rate of adipic acid manufacturers is still high this week. At present, more than 80% of adipic acid manufacturers have sufficient supply of goods in the market, and the inventory pressure of manufacturers remains high. The dealers usually take the goods as the main part, and the centralized purchase behavior is not in the off-season market. Some dealers purchase according to the order, and light inventory operation is the main part. In general, the enterprise inventory and market inventory pressure are relatively heavy. In terms of cost, from the beginning of May to the present, pure benzene has rebounded sharply, boosted by the recovery of crude oil and other peripheral cost factors. Moreover, since June, pure benzene is still rising. According to the monitoring of business society, pure benzene has increased by 4.17% (as shown in the figure below), but it has not brought fundamental benefits to adipic acid. On the one hand, the delay of cost transmission, and more importantly, the downstream demand There is no fundamental change in demand, which offsets the benefits brought by the cost. Moreover, adipic acid is squeezed from the upstream and downstream ends, and corporate profits gradually decline.

Trend chart of pure benzene Market

From the perspective of terminal demand, downstream demand is still relatively weak, and it is still in the off-season level. In addition, affected by the epidemic this year, the sales of polyurethane and other thermal insulation materials are also lower than that of the same period last year. In addition, downstream products such as PA66 have not come out of the dilemma, and the price is still at a low level. As a result, the demand for adipic acid is difficult to fundamentally improve, the inventory is difficult to digest, the manufacturers press more inventory, and dealers generally follow the market and purchase on demand. In addition, in addition to the weak domestic demand, the external demand has also worsened, especially affected by the overseas epidemic, the external demand has decreased, and the pressure on adipic acid export has continued to increase, which does not rule out the possibility that the inventory will continue to rise in the later period.

In the later stage, it seems to the business community that at present, due to the continuous upward impact of crude oil, petrochemical products have rebounded, especially pure benzene. The downstream adipic acid is not moved, but the burden of the enterprise is increased due to the increase of upstream cost. The root cause is still the sluggish demand, especially the overseas epidemic situation has not been effectively controlled, foreign orders have shrunk sharply, and adipic acid export has been hit. At present, adipic acid is in a dilemma both at home and abroad. Considering comprehensively, adipic acid will still shake and adjust at the bottom in the near future.