Price trend
According to the Commodity Market Analysis System of Shengyishe, as of May 7th, the average market price of benzoic acid was 9200 yuan/ton, an increase of 1.1% compared to last week.
In terms of cost
Mixed xylene: The price of mixed xylene in China has slightly decreased this week. On May 7th, the price of mixed xylene was 3250 yuan/ton, and on May 1st, the price of mixed xylene was 7600 yuan/ton, a decrease of 1.04% from last week. The demand for mixed xylene blending is relatively weak, and as of the end of April, the operating capacity of refineries nationwide has slightly decreased to around 6.9. In the later stage, there are still maintenance plans for the toluene mixed xylene unit in May and June, and the supply of mixed xylene is expected to decrease.
Acetic acid: The domestic acetic acid price remained stable this week. On May 7th, the price of acetic acid was 32500 yuan/ton, which remained unchanged from last week. At present, the operating rate of acetic acid enterprises has returned to a relatively high level, and the supply of goods from suppliers is sufficient. Enterprises actively allocate inventory before the holiday, but the market atmosphere is relatively weak after the holiday.
In terms of demand
The operating rate of downstream factories has also increased, the demand side has improved, the focus of negotiations has increased, and the enthusiasm of operators has increased. The polyester factory consumes more inventory and long-term supply, resulting in an increase in terminal pick-up speed after the holiday.
Future Market Forecast
Overall, the recent release of bearish news in the crude oil market has weakened the cost support for isophthalic acid. But the downstream demand center is improving, providing support for prices. It is expected that there is still room for upward movement in the market price of isophthalic acid.
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