According to monitoring data from Shengyi Society, the domestic adipic acid market has weakened overall since November, with a slight decline. On November 1st, the average market price of adipic acid was 8666 yuan/ton. On November 11th, the average market price of adipic acid was 8600 yuan/ton, a decrease of 0.77%.
Negative leads to weak rise in adipic acid market
At the beginning of November, the domestic adipic acid market continued to decline weakly. The main reason is that the upstream raw materials, pure benzene and cyclohexanone, have both experienced weak declines in the market, and there is insufficient driving force for cost increases, resulting in average demand for adipic acid procurement from end-users. Combined with the loose supply of adipic acid itself and multiple negative factors, the rebound of adipic acid market is weak, and weak downward trend is the main trend. The mainstream market price is 8400-8600 yuan/ton, and the market is running weakly.
An analyst from Shengyi Society believes that negative factors are still present, and in the short term, the adipic acid market is unlikely to have upward momentum and will continue to weaken.
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