According to the data from the business club’s bulk list, the domestic adipic acid market fluctuated in a narrow range in September, and the market was tepid and tepid. According to the data monitored by the business agency, adipic acid rose slightly in East China, with an increase of only 0.91%. The market demand was sluggish, and the market supply pressure was not reduced. Most dealers reported low profits to ship goods. Long term oversupply shrouded the market, and dealers mainly operated with light inventory. As of the end of the month, according to the monitoring of the business agency, the current quotation range of adipic acid market was 6500-6700 yuan / ton.
| Benzalkonium chloride |
In terms of market supply, the operating rate of adipic acid manufacturers remained at a medium high level in September, which was more than 80%. The market supply of adipic acid was relatively sufficient, and the manufacturers’ inventory pressure was large. Although there is a traditional sense of “gold nine silver ten” in September, the market did not have any good performance, most dealers purchase according to the order, light stock operation. Generally speaking, the pressure of enterprise inventory and market inventory is relatively large.
In terms of cost, the upstream crude oil price mainly maintains interval adjustment, with weak upward momentum, still hovering around us $40. Since the end of the soaring market since the middle and late July (with an increase of more than 10%), the price of pure benzene has fallen periodically since August. In September, it is mainly interval adjustment, with little room for rise and fall, and insufficient support for adipic acid downstream (as shown in the figure below) As shown in Fig. At present, the main contradiction in the market is that the downstream demand has not fundamentally improved, and adipic acid is squeezed from both upstream and downstream, resulting in the gradual decline of enterprise profits.
Market trend of pure benzene
In terms of downstream demand, the terminal performance was weak. Although the chemical industry recovered steadily in the late stage of the epidemic, consumption did not advance by leaps and bounds. The operating rate of downstream factories has not been significantly improved, and the overall consumption level of plastic products has not changed much, which is difficult to boost the market of upstream raw materials. In addition, the rigid consumption of downstream polyurethane is stable. Although the state promotes new infrastructure investment, the development momentum of real estate is restrained. Affected by the operating rate of real estate, the demand growth of downstream products such as polyurethane is not obvious. As a result, adipic acid demand is difficult to fundamentally change, inventory is difficult to digest, manufacturers have a lot of pressure, dealers generally follow the market and purchase on demand. In addition, in addition to the weak domestic demand, external demand is also worse. Especially affected by the overseas epidemic situation, the export of adipic acid is not optimistic, and the export pressure of adipic acid continues to increase. It is not ruled out that the inventory will continue to rise in the future.
In the later stage, it seems that the market may remain sluggish in the near future, and it is still difficult to make a breakthrough. In particular, due to the lack of favorable support in the upstream, the impact of loose supply side on the market, and the long-term view of terminal consumption, the weak pattern of domestic demand in the downstream is difficult to change in the short term, as well as the impact of shrinking foreign demand orders caused by severe overseas epidemic situation, it is expected that adipic acid market breakthrough will take time.
| ferric sulfate (Poly ferric sulphate) |