Lead: Prior to the holiday, although the supply of stearic acid was slightly tight, due to pre-holiday stocking, manufacturers and holders actively sold, with prices showing concessions. End users demonstrated moderate demand purchases before the short holiday. Meanwhile, raw material prices declined slowly, placing stearic acid under dual pressure from costs and demand.

1. Market Review

| Market | Price Condition | April 23 | April 29 | Change | Change % |
| --- | --- | --- | --- | --- | --- |
| East China | Ex-warehouse | 10800 | 10600 | -200 | -1.85% |
| Shandong | Ex-warehouse | 10800 | 10600 | -300 | -2.78% |
| South China | Ex-warehouse | 10900 | 10700 | -200 | -1.83% |
| Upstream - 52° Palm Oil | | | | | |
| East China | Port pickup | 9340 | 9340 | 0 | 0.00% |

Source: chempricehub

In late April, feedstock palm oil prices fluctuated at low levels. However, as stearic acid market players actively cleared inventory, prices declined at an accelerated pace, outpacing the decline in raw materials. End users remained cautious, adopting a wait-and-see attitude, and new orders were limited, maintaining only small-lot demand purchases for stearic acid. Toward the end of the month, crude oil prices rose broadly, leading to a moderate improvement in end-user buying.

2. Data Analysis