According to the Commodity Market Analysis System of Shengyi Society, starting from March, supported by the sharp rise in raw material prices, the adipic acid market has heated up and continued to rise. On March 5th, the average market price of adipic acid was 8700 yuan/ton, an increase of 4.82% from early March and 3.57% from the end of February.
Raw material market supports the rise of adipic acid market
After the Spring Festival, the adipic acid market briefly rose and then fell weakly. Since March, driven by the rising prices of raw materials such as pure benzene and cyclohexanone, manufacturers have continuously raised the ex factory price of adipic acid. The market transactions are still acceptable, and the market has experienced a sharp rise, with a two-day increase of nearly 5%. As of March 5th, the average price of adipic acid in the domestic market was around 8700 yuan/ton, an increase of 400 yuan/ton.
The main factors affecting the rise of the adipic acid market in this round are: cost side (core driver): Recently, international oil prices have risen due to geopolitical factors, directly driving the prices of upstream raw materials such as pure benzene and cyclohexanone to strengthen. The main reason for the price increase of adipic acid in this round is the support from the cost side.
Supply side (tight support): Industry supply has tightened slightly. The domestic adipic acid production rate has decreased this week; The weekly production decreased compared to the previous period. The tightening of supply is also a driving force behind the rise of adipic acid.
An analyst from Shengyi Society believes that the international oil price is rising rapidly, and pure benzene, as a downstream of crude oil, has strong upward momentum. In the short term, the market for adipic acid still has room for growth.
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