According to the commodity market analysis system of Business Society, at the beginning of February, the market for adipic acid mainly showed an upward trend, continuously rising. At the beginning of the month, the average market price of adipic acid was 8,066 yuan per ton. By February 5th, the average market price had increased to 8,333 yuan per ton, representing a price increase of 3.31%.
Favorable factors supported the continuous rise in adipic acid prices. At the beginning of February, crude oil prices surged significantly. The prices of raw materials for adipic acid, such as pure benzene and cyclohexanone, remained persistently high. With the Spring Festival approaching, the demand for terminal nylon stockpiling drove the market. Manufacturers held a strong bullish sentiment, leading to a continuous increase in adipic acid prices. Market trading volume also rose, and the market steadily warmed up, with a five-day increase exceeding 3%. As of February 5th, the average market price of adipic acid in China was around 8,333 yuan per ton, an increase of 300 yuan per ton.
The adipic acid analyst at Business Society believes that after the holiday, the procurement demand from terminal manufacturers is expected to decline. The adipic acid market may experience a sharp drop in the future, with insufficient momentum for sustained significant increases.
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