Adipic acid market trend chart

According to the business agency, domestic adipic acid prices rose by 11 per cent last week (7.5-7.9). After the weak market in June, adipic acid price started to rise in early July. At present, the price is stable at 11000 yuan. The market rise is mainly due to the sharp increase of the price of pure benzene in the upstream of adipic acid, which leads to the passive follow-up in the downstream. The influence of the increase of listing price at the beginning of the month by the manufacturer is superimposed. Adipic acid has risen sharply. At present, the adipic acid price range is 10800-11100 yuan / ton.

From the perspective of market supply, adipic acid starts at a normal low level, and the manufacturer has a general inventory pressure. Some enterprises’ maintenance has led to the release of supply pressure. At the beginning of the month, the manufacturers raised the listing price intensively, which led to the passive follow-up of the market, and some dealers have no goods in their hands. The price shows signs of empty rise and high price. Some dealers offer more than 11500, but the high price has not been closed, and the demand is reflected, With the market entering the off-season, the speed of goods taking has decreased significantly. Dealers see that the downstream goods are cautious. After the price rise, the market reaction is more light, and the main reason for the price increase is cost promotion.

Trend chart of pure benzene Market

In terms of cost, pure benzene has been rising since mid June, although it has dropped slightly in recent days, but by the end of July 9th, the increase is still over 13%. The increase in cost has gradually been transmitted to the downstream adipic acid, and the purchasing pressure of manufacturers has forced the enterprises to focus on price adjustment, driving up the market of adipic acid.

PA66 market trend chart

In terms of downstream demand, from the downstream PA66 of adipic acid, PA66 has been in a slump since the second quarter. After entering July, the travel situation eased slightly, and the decline was stabilized and slightly increased. This is slightly supported by adipic acid upstream. According to the monitoring of business agency, PA66 rose 0.52% month by July 9. The impact of weak downstream demand on adipic acid was obvious.

In the later stage, the business agency believes that adipic acid is currently at a high level and continues to have a lot of upward resistance. The main reason is that downstream demand has not changed, and in recent days, the price of pure benzene in the upstream has a sign of falling, and it can release some pressure from cost. It is expected that the market will remain stable in the near future.

Spot market: according to the monitoring of the business community, recently, the quotation of pure polyester yarn market has been rising steadily. As of July 9, the price of 32S pure polyester yarn in Shandong was about 11680 yuan / ton, the same as last week; Jiangsu Nantong Suzhong 32S pure polyester yarn reported 15000 yuan / ton, up 700 yuan / ton from last week. This week, the pure polyester yarn market is weak, sales continue to be flat, goods are still relatively light, the industry mentality is still cautious, confidence is still insufficient, trade merchants are mainly wait-and-see, spinning manufacturers are mainly shipping mentality.

Upstream polyester staple fiber: in terms of futures, polyester raw materials were affected by crude oil, and staple fiber also weakened. On July 8, the futures price of polyester staple fiber 2109 contract closed at 7166 yuan, down 1.86% from the previous trading day; In terms of spot goods, the futures price of staple fiber is going down. In addition to the centralized purchase of yarn mills last weekend, the production and sales of staple fiber are poor, and the market is cold. The overall production and sales of the factory is about 17.27%. East China staple fiber quoted 6975 yuan, down 100 yuan from the previous trading day. Short fiber futures are still mainly in the state of shock adjustment, but the possibility of significant sustained decline is not big, the market will still be stable shock finishing.

Downstream demand: due to the summer off-season, some clothing manufacturers’ cloth procurement has decreased, the orders of downstream clothing manufacturers and home textile manufacturers have decreased month on month, and the textile market has a strong wait-and-see mood. Due to the decline of downstream demand, the orders of some traders and weaving manufacturers for mass products are still insufficient, the start-up rate of weaving enterprises is gradually decreasing, the output of printing and dyeing enterprises is declining month on month, and the market trend is partially weak.

Suggestion: it is expected that the overall market will fluctuate in the future. Pay attention to the trend of raw materials and the demand of downstream market.

1、 Domestic sodium pyrosulfite price trend chart

According to the monitoring of business news agency, the price of sodium pyrosulfite in China kept steady this week. The average price of industrial grade sodium pyrosulfite was 2100.00 yuan / ton at the beginning of the week and 2150.00 yuan / ton at the end of the week, up 2.38%.

2、 Market analysis

This week, the overall market performance of sodium pyrosulfite was stable. The market price range of industrial grade sodium pyrosulfite was 2000-2350 yuan / ton, and most of the prices were around 2200-2300 yuan / ton. The production of enterprises is stable, and the orders of old customers have been mainly completed. Affected by the early production restriction, the overall inventory is low. This week, some enterprises slightly increased the ex factory price again, driving the domestic market price of sodium pyrosulfite to continue to rise（ The above prices are quoted by domestic mainstream enterprises, and some enterprises not quoted are not within their scope. The prices are for reference only, and have nothing to do with the final pricing of manufacturers. For details, please contact each manufacturer for consultation).

In July, the domestic soda price continued to rise, rising by 1.06% from the beginning of the month to the present. The high sulfur price was relatively strong, rising by 0.2% from the beginning of the month to the present. The cost of raw materials continued to rise, which will further support the future market price of sodium pyrosulfite.

3、 Future forecast

Business analysts believe that upstream raw material prices continue to rise, sodium pyrosulfite inventory decline, just need to support, it is expected that the domestic market price of sodium pyrosulfite will continue to be strong in the short term.

On July 8, the overall market price of styrene dropped slightly. Crude oil recovered, pure benzene dropped slightly, ethylene remained stable, and styrene cost remained unchanged. The restart and maintenance of styrene plant are mutual, but the new production is delayed, and the output increase is less than expected. As of July 4, Jiangsu had 803 (+ 22600) tons of social inventory and 568 (+ 22100) tons of commodity inventory. The centralized inventory in Hong Kong rose last week, but this week was limited in Hong Kong. If the pick-up is maintained, the inventory may go to the warehouse slightly. Under the long short game, styrene is expected to continue to fluctuate in the short term.

Downstream, PS, EPS, ABS prices temporarily stable. EPS terminal demand is weak, operation rate rises slightly, and styrene procurement is cautious. PS operating rate fell slightly, but the purchase of styrene spot only appeared when the price was low. ABS operating rate fell, but Taihua and Haijiang will restart this week, starting is expected to pick up, terminal demand is weak in the off-season. To sum up, the short-term styrene cost support is strong, the supply increment is less than expected, and the short-term styrene market is still in a strong shock stage.

Today, the price of styrene in Shandong was lowered to 9350-9500 yuan / ton.

In June, the NBR market was basically stable. According to the monitoring of the business community, the price of NBR was 20800 yuan / ton at the beginning of the month and 20900 yuan / ton at the end of the month. The overall end of the month slightly increased by 0.48% compared with the beginning of the month.

The domestic supply side of NBR is basically stable, the ex factory price of NBR has been increased, but the demand side is still relatively weak. It is understood that the ex factory price of domestic Lanhua nitrile rose in June. As of June 30, Lanzhou Petrochemical n41e reported 18500 yuan / ton, 3305e reported 19600 yuan / ton, 3308e reported 20500 yuan / ton. In June, the downstream of NBR started low-level on-demand procurement, and the offer of traders was basically stable.

In June, the price of butadiene rose sharply, and the cost side was strongly supported. According to the monitoring of the business community, the price of butadiene was 7458 yuan / ton at the beginning of June and 8852 yuan / ton at the end of June, with an overall increase of 18.68%.

Future forecast: NBR analysts of the business community believe that the supply side of NBR is stable at present, while the cost side goes up substantially. It is expected that NBR will be strongly supported by the cost in the later period.