Price trend
On September 15, the price of adipic acid in East China rose. According to the monitoring of SunSirs, the daily increase of adipic acid was 2.94%. Dealers’quotations were generally raised, with an increase of 200-300 RMB/ton.
Analysis review
In terms of cost side, the price of pure benzene in the upstream continued to rise, forming a strong support for the downstream. However, the demand side did not improved much, and the downstream was still cautious in obtaining goods with purchasing mainly on demand, and the transaction did not changed much. On the 15th, the mainstream price of adipic acid in the adipic acid market was 10,400-10,600 RMB/ton for Shandong sources, and 10,500-10,700 RMB/ton for Jiangsu sources. Most of the downstream purchased mainly on demand.
Market outlook
Looking at the market outlook, the recent high price of pure benzene will not return, and the cost will continue to drive up the price of adipic acid. It is expected that the market will still have room for upside in the near future.
