In August, in less than half a month, the domestic adipic acid market quickly turned into a downward channel after a round of price increases at the beginning of the month. The mentality of market participants has also experienced a change from good to bad. As of now, East China The market price refers to 10,600-10,800 yuan/ton for delivery or pick-up, which is a narrow 1.4% decline from the price at the end of last month.
The reason for the rise in the adipic acid market at the beginning of the month is that on the one hand, the factory’s invoice price last month was on the high side, and traders were less willing to sell at a lower price. In addition, the factory’s new month listing price rose further, which supported the holders’ offers. It also gradually moved higher. On the other hand, when there is not much inventory in the factory, some devices are undergoing maintenance. Among them, a device in Shandong Hongding was unstable after restarting in late July and stopped again on July 31. After being put into operation on August 4, it gradually resumed normal operation; The Tangshan Zhonghao unit was shut down for maintenance for about 10 days at the end of last month; the 140,000 tons/year Yangmei Taihua unit was shut down for maintenance and is expected to restart in mid-August. At the beginning of the month, with the support of positive supply, although pure benzene was lowered, the impact on cost was not significant, and the market price was mainly pushed up.
However, the cost disadvantages are still increasing. In August, the raw material pure benzene continued to decline. On August 2, pure benzene was listed at 7,900 yuan/ton, on August 4, it was listed at 7,700 yuan/ton, and 8 On March 9, it was listed at 7,550 yuan/ton, which is now 600 yuan/ton lower than in July. As raw materials continue to decline, the market’s price support mentality gradually collapses.
In addition, in August, some maintenance equipment will be gradually resumed and the operating rate is expected to increase. There is currently no positive support on the supply side, and downstream purchasing intentions are also weak.
Generally speaking, the mentality of both buyers and sellers in the current market is bearish, the buying and selling atmosphere is weak, and only some users who are in urgent need are purchasing in small quantities. The raw material pure benzene is fluctuating at a low level, and there is a lack of effective positive boosts on the cost side and the supply and demand side. It cannot be ruled out that there is still a certain possibility of decline.
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