According to the data of the business club’s block list, this week (1.18-22), the domestic adipic acid market ended its correction and rebounded. According to the monitoring, the sample obviously went up, with a range of 2.51%, and many regions showed a warming trend. And most of the dealers quote tentatively high, East China, South China and other regions generally rose. According to the monitoring of business association, the quotation range of adipic acid market is 8200-8500 yuan / ton.

In terms of market supply, the operating rate of adipic acid manufacturers remained stable in the middle of January, about 80%. The market supply was relatively sufficient, and the inventory pressure of manufacturers was acceptable. At present, the pressure on the manufacturers’ inventory is not great. In the early stage, the dealers had a wave of price reduction to remove the inventory. At present, the social inventory is more reasonable. Combined with the replenishment behavior in the downstream years ago, the pressure on the supply side is generally controllable.

Pure benzene market trend chart

In terms of cost, the upstream crude oil price continued to run at a high level this week, and the rising oil price provided cost support for the downstream chemical industry. The business community monitored that the price of pure benzene in the upstream of adipic acid was mainly running at a high level, rising continuously this month, with a monthly increase of more than 6.53% as of January 22. The pressure of cost (as shown in the figure above) forced adipic acid price to remain at a high level, but it began to rise this week The price of pure benzene will stop rising, adipic acid may lose its cost advantage in the later stage, and the price may be under pressure.

PA66 market trend chart

As far as downstream demand is concerned, the terminal performance is rigid and stable. Although the polyurethane procurement peak is gradually coming to an end, the market demand will inevitably decline, but before the festival, the procurement behavior of downstream stock is not reduced. In January, the price of PA66 is still at a historical high. Up to now, according to the data of business community, the increase in January is 1.53%. The market has been running at a high level, and the strength has declined, and the growth rate has narrowed. It is expected that the market will have a smooth transition before the year, and rigid demand will still give adipic acid some support.

In the later stage, the business community believes that adipic acid is in the adjustment range at present, and the price in the later stage may be subject to the suppression of demand without big action. But at present, when the Spring Festival is approaching, the downstream operating rate may decline, and the cost of pure benzene also shows signs of peaking. The downstream PA66 does not rule out the price callback, and it is expected that adipic acid may maintain a high level in the near future, and it is unlikely to continue to rise And we don’t rule out the possibility of falling back.