According to the monitoring of business agency, the price of adipic acid in China fell this week, and adipic acid in East China fell by 2.68% this week. The market price range of adipic acid at the weekend is 13700-14000 yuan / ton. On the one hand, the prices of upstream crude oil, pure benzene and cyclohexanone fell. In addition, the terminal demand is still cautious, the transaction is not ideal, and it is difficult to support the rising price of adipic acid.
In terms of market supply, this week, the operating rate of adipic acid was slightly higher than that of the previous week, and is currently maintained at about 70%. Most manufacturers mainly support the price, and the listing price of some large manufacturers is reduced by 500 yuan / ton. The start-up of the manufacturer is basically stable. In terms of commencement, about 80% of Shandong Haili and Zhonghao units were started; Restart of Liaohua old line; Huafeng phase V is still raising the burden; The supply of this week is slightly higher than that of this week.
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Adipic acid industry chain trend
The above figure shows that the adipic acid industry chain has declined as a whole this week, and the upstream products cyclohexanone and pure benzene have declined, especially pure benzene, with a large decline, while adipic acid and downstream PA66 have a small decline, indicating that the profit level of adipic acid manufacturers is acceptable.
Market trend of pure benzene in the upstream of adipic acid
The price of pure benzene fell mainly this week. According to the monitoring of business society, the price of pure benzene fell as much as 7.92% this week. The sharp decline of crude oil price affected market confidence. The downstream chemical raw materials had a downward trend. The spot price of raw material pure benzene fell sharply. The guiding price of main refineries decreased successively on March 14 and 16, accumulating 700 yuan / ton. Raw material prices fell, cost support weakened, and market participants were generally bearish about the future market.
Market trend of cyclohexanone in the upstream of adipic acid
Cyclohexanone also fell with crude oil this week. According to the monitoring of business society, cyclohexanone fell by 3.71% this week. The weak supply and demand brought down the high level of cyclohexanone market.
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The prices of upstream products cyclohexanone and pure benzene generally fall, and adipic acid will further fall under the pressure of cost. It is expected that the price of adipic acid will still have downward space with the gradual transmission of cost in the later stage.
Market trend of adipic acid downstream PA66
Terminal demand: PA66 in the downstream of adipic acid remained weak after the festival. According to the data of business society, the market of PA66 fell this week, and the price fell by 2.31% this week. The load level of domestic PA66 industry is at a high level. The inventory position of the port is not high, and the arrival volume of overseas goods is general. In terms of demand, at present, terminal enterprises take goods to follow up, prefer to just need to maintain production, and their resistance to high price sources increases instead of decreasing. In addition, the health incident affected domestic logistics and the production of individual downstream factories, the shipment fluency of merchants was poor, the transaction resistance in the venue increased, and the mentality of sellers was affected. The range of offer negotiation this week is still large.
In the later stage, the business society believes that although the prices of crude oil and pure benzene have declined, the price of adipic acid is still relatively high, which does not rule out the continued decline due to cost conduction in the later stage. Superimposed on the weak follow-up of downstream demand, due to the impact of the epidemic, poor transportation and goods will also affect some demand, and adipic acid is expected to remain weak next week.
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