In May, the domestic adipic acid price fell sharply, which continued the decline in April. After peaking in March, with the increase of domestic adipic acid supply pressure and relatively weak demand, the price lost support and gradually went down. According to the monitoring of business news agency, adipic acid in East China fell by 8.23% in May, with a cumulative decline of more than 12% in the last two months. At the end of May, the price range of adipic acid was 10000-10200 yuan / ton.

In terms of market supply, in May, adipic acid maintained a high level of operating rate, enterprises gradually accumulated inventory, and inventory pressure was greater. As the market entered the off-season, the speed of delivery decreased significantly, so it was inevitable for enterprises to reduce the price and de inventory. From the perspective of dealers, when the market rose in the first quarter, dealers hoarded a large number of goods. In April and may, the market turned down, and inventory was generally cleared, further forcing enterprises to reduce prices and ship goods.

Pure benzene market trend chart

In terms of cost, the high price of pure benzene fell rapidly in the middle and late May. According to the monitoring of the business community, from May 15 to 28, the price of pure benzene fell by 8.14%, and the cost support weakened, resulting in the linkage decline of adipic acid price.

PA66 market trend chart

As far as downstream demand is concerned, from the perspective of downstream PA66 of adipic acid, PA66 continued its decline in April and continued to decline, resulting in low terminal demand, resulting in little improvement of the whole industry. According to the monitoring of business news agency, as of the 28th, the monthly decline was 3.04%.

In the later stage, the business community believes that the current supply pressure of adipic acid is still large, the time for destocking may be prolonged, the price is easy to fall but difficult to rise, and the market supply pressure in the later stage is difficult to ease in the short term, which is mainly caused by the increase of shipping pressure of enterprises and the slowdown of downstream procurement. It is expected that adipic acid may continue to adjust, and the possibility that the range will continue to move down cannot be ruled out.