According to the Commodity Market Analysis System of Shengyi Society, the adipic acid market continued to rise in January, with prices continuing to rise. At the beginning of January, the average market price of adipic acid was 7133 yuan/ton. On January 26th, the average market price of adipic acid was 7633 yuan/ton, with a price increase of 7.01%.
Positive support, adipic acid market continues to rise in January
After the New Year’s Day, the prices of raw materials such as pure benzene and cyclohexanone continued to rise, supported by costs. Manufacturers continuously raised the ex factory price of adipic acid, and market transactions improved. As the Spring Festival approached, downstream nylon and polyurethane industries were boosted by stocking prices, supported by multiple favorable factors. The adipic acid market warmed up. As of January 26th, the average price of adipic acid in the market rose to 7700-7900 yuan/ton, with a price increase of over 500 yuan/ton compared to the beginning of the month, an increase of over 7%.
The analyst of Shengyi Society’s adipic acid market believes that the rise in this round of adipic acid market is mainly driven by the stocking market. After the Spring Festival, the adipic acid market will continue to rise and face pressure in the future, and may usher in a weak decline.