Price trend

According to the Commodity Market Analysis System of Shengyishe, the market price of benzoic acid first rose and then fell in May. As of May 28th, the average market price of benzoic acid was 9316 yuan/ton, an increase from 9100 yuan/ton at the beginning of the month, with an overall increase of 2.38%.

In terms of cost

Mixed xylene: The price of mixed xylene in China has risen after a decline this month. On May 27th, the price of mixed xylene was 7660 yuan/ton, and on May 1st, the price of mixed xylene was 7680 yuan/ton, a decrease of 0.26% from the beginning of the month. The concentrated release of bearish news in the international crude oil market in early May has put pressure on the risk premium of crude oil, causing weak fluctuations in international crude oil prices and weakening support for the cost of mixed xylene. The significant decline in Asian mixed xylene prices has had a bearish impact on the domestic market. In the latter half of the year, international crude oil fluctuated upwards, mixed xylene port inventories decreased, supply decreased, and the market rose.

Acetic acid: The domestic price of acetic acid rose first and then fell this month. On May 28th, the price of acetic acid was 3150 yuan/ton, and on May 1st, the price of acetic acid was 3250 yuan/ton, a decrease of 3.07% from the beginning of the month. In the first half of the month, the supply and demand of acetic acid were strong, inventory continued to decline, and prices remained strong, with a mid month increase of 4.49%. However, as downstream acetic acid companies resisted high prices, the market price of acetic acid gradually fell in the second half of the month.

In terms of demand

Downstream polyester shipments are slow, and inventory continues to operate at high levels to alleviate recent inventory pressure. Factories have concentrated production cuts, indicating a strong intention to support the market. Therefore, it is necessary to replenish raw materials appropriately and continue to stock up on demand. There is a possibility of a certain downward trend in the trading center on the market.

Future Market Forecast

Overall, the cost support for isophthalic acid is limited, there is no significant fluctuation in the fundamentals, the purchasing enthusiasm is poor, and the overall market atmosphere is relatively light. It is expected that the market price of isophthalic acid will remain relatively stable.