At the beginning of November, domestic adipic acid manufacturers listed at a high level, and their attitude towards the market was obvious, but the trading volume in the market was sluggish, and the market fluctuations were limited, waiting for the actual transaction guidance. However, as the demand side continues to be weak, the main price of raw material pure benzene has been lowered, and the factors of the recurrence of the epidemic in many regions of the country are superimposed, the actual transaction price of the AA market is loose within a narrow range. Taking November 3 as an example, the mainstream average price in the East China market refers to 10,000-10,400 yuan/ton, and the delivery is accepted.
Until the middle of the month, pure benzene at the raw material side continued to fluctuate at a low level, and the supply side also had limited changes. Most of the real orders are small orders, and the price negotiation will be followed up. Although the crude oil and pure benzene markets rose slightly in the follow-up, some domestic manufacturers kept their parking expectations, and the cost and supply side were supported, but the continued weak demand performance was still the main negative factor, and some regions were affected by the epidemic factors to follow up, AA The market continued to decline within a narrow range due to weak trading.
Listed settlements are as follows (including October settlement): October settlement: Liaohua 11400, Huafeng, Zhonghao, Haili 11300; November listing: Liaohua, Shenma 12600 → (later adjusted to ) 12100; Huafeng, Zhonghao, Haili, Tianli, 12500→12000 (unit: yuan/ton)
As of press time, the AA market continued its weak downward trend in the second half of this month. In the second half of the month, with the volatility of the crude oil market and the continued decline of pure benzene spot, the cost support was weak. Downstream TPU Industries such as pulp and pulp are still showing a lack of buying momentum, and the start of downstream industries has slightly decreased compared with the beginning of the month. Under the situation of intertwined long-short factors, the downstream just-needed orders follow up with lower prices, and the actual orders are low for negotiation, and the AA market is weak. Throughout this month, the adipic acid market showed a gradual decline. As of November 29, the mainstream price in the East China market is 9100-9300 yuan/ton for reference, and it will be accepted and delivered.
The market is so sluggish recently, where will the domestic adipic acid market go? The follow-up AA market trend needs to focus on the announcement of the supplier's settlement price at the end of the month, the guidance of listing news in December, and the procurement situation in the downstream of the AA industry chain.
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