According to the Commodity Market Analysis System of Shengyi Society, the domestic adipic acid market hit bottom and rebounded in May. Due to the significant decline in the previous period, the overall price slightly increased. On May 1st, the average price of adipic acid in the domestic market was 7416 yuan/ton. On May 28th, the average price of adipic acid in the domestic market was 7433 yuan/ton, with a price increase of 0.22%.
Long Short Game: Adipic Acid Market Reaches Bottom and Rebound in May
After the May Day holiday, the prices of pure benzene and cyclohexanone raw materials for adipic acid fell, and the demand for end plastics industry was poor. The prices of adipic acid manufacturers continued to decline and hit the bottom. The domestic adipic acid market has average transactions and a weak market trend. As of May 13th, the average market price of adipic acid has fallen to 7100-7400 yuan/ton, with an overall decrease of 200-300 yuan/ton.
Starting from mid May, the market for pure benzene and cyclohexanone raw materials for adipic acid has remained strong, and the demand for end plastics industry has increased, resulting in higher prices for adipic acid manufacturers. The domestic adipic acid market has seen an improvement in transactions and a rise in the market. As the end of the month approaches, the price of adipic acid continues to operate at a high level. As of May 26th, the average market price of adipic acid has risen to around 7400 yuan/ton, with an overall increase of 100-200 yuan/ton.
An analyst from Shengyi Society believes that in June, with the increase in terminal demand and support from the raw material market, there is still room for an upward trend in the domestic adipic acid market.
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