1、 Price trend

According to the data of the business club’s bulk list, this week (5.11-15), the domestic adipic acid market did not change much, and some regions rebounded slightly, but the strength was limited. The data monitored by the business club showed that the weekly increase of adipic acid in East China was 0.92%, the market demand was weak, and the supply pressure was still there. Some dealers’ quotations rose and fell within 100 yuan. Most manufacturers were still bearish on the aftermarket and light on inventory and transportation Main, according to the monitoring of the business agency, the current quotation range of adipic acid market is 6500-6700 yuan / ton.

2、 Market analysis

From the perspective of market supply, the process of de stocking is relatively slow, the manufacturer’s inventory pressure is still large, and the supply pressure has not been significantly eased, mainly because the manufacturer still maintains a high rate of start-up. Although most dealers have returned to normal shipment, they still haven’t reached the pre epidemic delivery level. At present, there is a trend of both enterprise inventory and market inventory. In terms of cost, although from the beginning of May to now, pure benzene has rebounded significantly, and the monitoring of the business community shows that the growth rate of pure benzene is over 9%, but it has not brought fundamental benefits to adipic acid. On the one hand, the delay of cost transmission, on the other hand, the sharp decline of pure benzene in the early stage, the decline of adipic acid has not fully kept up with the decline of pure benzene, so at present, adipic acid has not rebounded There is still some profit space, so adipic acid is also more resistant to falling than the upstream pure benzene, but the source is still the demand side:

From the perspective of terminal demand, the low consumption is the key factor that has long plagued the adipic acid market. The operating rate of downstream factories has not been significantly improved, and plastic products are still in the off-season of consumption, which is difficult to boost the market. In particular, the operating rate of downstream real estate is generally lower than that of the same period last year, and the sales of polyurethane and other thermal insulation materials are also lower than that of the same period last year. In addition, there are no downstream products such as PA66 Out of the dilemma, the price is still at a low level, which eventually leads to the unsatisfactory situation of adipic acid shipment, difficult to digest inventory, many manufacturers’ inventory pressure, 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 agency predicted that the whole chemical industry is still in a difficult time. The contradiction between supply and demand overlaps, the price is easy to fall and hard to rise. Affected by the lack of demand in the domestic market, especially the overseas epidemic situation has not been effectively controlled, the foreign orders are shrinking sharply, and the adipic acid export is ready to be hit. At present, the adipic acid is in a difficult situation both at home and abroad. In a comprehensive consideration, the adipic acid should remain in a downturn in the near future Situation.