According to the Commodity Market Analysis System of Shengyi Society, in February, the domestic adipic acid market experienced a decline after a rise, and the overall price increased. On February 1st, the average price of adipic acid in the domestic market was 8400 yuan/ton. On February 26th, the average price of adipic acid in the domestic market was 8433 yuan/ton, with a price increase of 0.4%.

Long Short Game: February Adipic Acid Market with Mixed Prices

At the beginning of the month, the prices of pure benzene and cyclohexanone, raw materials for adipic acid, rose, supported by the stocking situation in the terminal plastic industry. The prices of adipic acid manufacturers increased, and the domestic adipic acid market transactions improved, leading to a warming of the market. The average market price rose to 8500-8700 yuan/ton, with an overall increase of 200 yuan/ton.

In the middle of the month, the prices of pure benzene and cyclohexanone as raw materials for adipic acid remained strong, and the demand in the terminal industry recovered. The prices of adipic acid manufacturers rose, and the market improved. The average market price rose to 8500-8700 yuan/ton, with an overall increase of 50-100 yuan/ton.

At the end of the month, the prices of pure benzene and cyclohexanone, raw materials for adipic acid, fell, dragging down the raw material market, and the demand for terminal market was average. Adipic acid has an oversupply and the market is gradually declining. The average market price has fallen to around 8400 yuan/ton, with a price drop of 50-100 yuan/ton.

An analyst from Shengyi Society believes that starting from March, with average terminal demand and limited boost in raw material prices, the domestic adipic acid market will continue to weaken.