Currently the domestic adipic acid price temporarily remains stable.
Recently, adipic acid supply was relatively stable as the operating rate of manufacturers’ facilities remained high.
In terms of the demand side, PU resins for synthetic leather, PU resin for shoes sole and other end-use markets are thinner than the same period the last year. Thus, orders from these end-use sectors are moderate, which results in limited consumption of the raw material and provides little support for the adipic acid market.
Market outlook: The expectation for high demand during the traditional September-to-October peak season has become a visionary hope. How can we take the opportunity presented by the last quarter becomes the main concern. The price of benzene depends on the cost of oil. It is expected that the cost pressure on adipic acid will remain. As the operating rate of downstream manufacturers’ facilities remains low due to many factors, and the PA66 market is largely strong, many of these manufacturers make purchase based on their rigid demands. It is heard that polyester polyols market is thin and therefore is likely to set on downward trajectory. In a word, as demand for adipic acid is not strong, it is unlikely to see a market rally.
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