Price trend
According to the Commodity Market Analysis System of Shengyishe, as of April 24th, the average market price of benzoic acid was 9100 yuan/ton, which is unchanged from last week.
In terms of cost
Mixed xylene: The price of mixed xylene in China has slightly decreased this week. On April 24th, the price of mixed xylene was 7910 yuan/ton, and on April 18th, the price of mixed xylene was 7930 yuan/ton, a decrease of 0.25% from last week. Due to the unexpected increase in US crude oil inventories, demand expectations have weakened. International crude oil prices have fluctuated and fallen, weakening support for the cost of mixed xylene. Overall, the expected decline in the supply of mixed xylene in the later period provides some support for the mixed xylene market.
Acetic acid: The domestic price of acetic acid has dropped this week. On April 24th, the price of acetic acid was 3350 yuan/ton, and on April 18th, the price of acetic acid was 3450 yuan/ton, a decrease of 2.9% from last week. The acetic acid market is running weakly this week. The utilization rate of production capacity has significantly decreased, the inventory of manufacturers has decreased, and the quotation for acetic acid is relatively strong and continues to rise. As downstream restocking continues, the demand for purchasing in the market has gradually stabilized, and the market trading atmosphere has weakened, leading to a decrease in acetic acid prices.
In terms of demand
The downstream polyester industry has a stable operating load around 90%, with average order performance and low willingness to accept high priced raw materials. Downstream factories are cautious in their procurement. In March, there were quite a lot of equipment maintenance in enterprises, with inventory mainly running at a low level. In April, some enterprise equipment restarted, but it still needs some time to recover. With the continuous increase in operating rates, inventory is also constantly increasing. Dyes, pesticide intermediates, and other products are in high demand for customers to purchase, and downstream trading is not active.
Future Market Forecast
Overall, cost support has weakened, domestic factories have started operating steadily, and the prices offered by holders have remained stable. Overall, shipments have been relatively flat. It is expected that the market price trend of meta phthalic acid will remain stable.
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