According to the data from the large list of business associations, in November, the domestic adipic acid market continued its upward trend in October. According to the data monitored by the business agency, adipic acid in East China increased by 18% in the whole month, mainly due to the driving of upstream costs, the new record of pure benzene price, and the recovery of downstream PA66 market. According to the monitoring of business agency, the current market quotation range of adipic acid is 8000-8500 yuan / ton.

From the perspective of market supply, the operating rate of adipic acid manufacturers remained stable in November, about 80% or more. The market supply of adipic acid was relatively sufficient, and the manufacturers’ inventory pressure was large. Dealers usually take the goods normally, the manufacturer’s inventory pressure is not big, and the inventory is gradually transferred to the distribution link. Therefore, the dealers are forced by the inventory pressure in the late November, and the quotation is slightly loose.

Market trend of pure benzene

In terms of cost, the upstream crude oil price maintained an upward pattern. The WTI price rose to around us $45, which supported the downstream petrochemical industry’s price to stabilize and rise. In particular, pure benzene continued to rise sharply in November. According to the business agency’s monitoring, the price of pure benzene rose by 16% in November (as shown in the figure above). The pressure of cost forced the price of adipic acid to rise. The price of pure benzene was adjusted back at the end of the month or the later price of adipic acid There will also be callback pressure.

PA66 market trend chart

In terms of downstream demand, the terminal performance is rigid and stable. In the late stage of the epidemic, although the chemical industry rebounded steadily, the operating rate of downstream factories increased slightly. In addition, the rigid consumption of downstream polyurethane was stable, and the market of PA66 also rose sharply. Up to now, the price of PA66 has increased by 31% in November, as shown in the figure above. However, the price rise of PA66 slows down at the end of the month, and it is expected that the upward space will be limited in the later period.

In the later stage, it seems that adipic acid has been soaring for two consecutive months, mainly driven by the upstream and downstream. The market is mainly stabilized at the end of the month, mainly because the market mainly returns to the fundamentals. However, as winter approaches, the downstream operating rate may decline, and the cost of pure benzene also shows signs of decline. The downstream gradually enters the off-season, and it is expected that adipic acid will stabilize in the near future Exclude the possibility of falling back.