1、 Price trend

According to the data of the business club’s bulk list, last week, April 13-17, the domestic adipic acid market did not change much and the market performance was weak. Compared with last week, the market did not improve. Some dealers’ prices kept rising or falling within 100 yuan. Most manufacturers still looked down on the future market and light inventory operation was the main thing. According to the business club’s monitoring, the current quotation range of adipic acid market is 6500-6800 yuan / ton.

2、 Market analysis

In terms of supply and demand, at present, the contradiction between supply and demand in the market is becoming increasingly prominent, and the supply pressure is gradually emerging, mainly because the manufacturers still maintain a high rate of start-up. Although dealers have generally resumed shipment, they still haven’t reached the normal level of shipment, resulting in the gradual increase of inventory pressure of manufacturers. In terms of cost, although pure benzene has rebounded significantly from the beginning of April to now, it has not brought fundamental benefits to adipic acid. On the one hand, the delay of cost transfer, on the other hand, the early stage of pure benzene fell sharply, and the strength of adipic acid falling was limited, so there is still profit space for adipic acid without rebounding at present.

From the perspective of terminal demand, the operating rate of downstream factories has not been significantly improved, plastic products are still in the off-season of consumption, which is difficult to boost the market, polyurethane and PA66 and other downstream products have not come out of the dilemma, and the price is still in the low position. As a result, the shipment of adipic acid is not ideal, the inventory is difficult to digest, the manufacturers have a lot of inventory pressure, and dealers generally go with the market and purchase on demand. In addition, in addition to the weak domestic demand, the external demand has also worsened, especially affected by the overseas epidemic, the external demand has decreased, and the pressure on adipic acid export has continued to increase, which does not rule out the possibility that the inventory will continue to rise in the later period.

3、 Future forecast

In the later stage, the business community predicted that the current chemical cost end crude oil price continued to operate at a very low level, although the price of pure benzene rebounded, it was still at a relatively low level in history, and the upstream bad news was still an important factor restricting the adipic acid market, more importantly, it was affected by the weak market demand, especially the overseas epidemic situation was not effectively controlled, foreign orders were sharply shrinking, and the adipic acid export was ready Hit, comprehensive consideration, adipic acid should maintain a downturn in the near future.