The adipic acid market warms up and the swordsman stands up to fight

The adipic acid market is picking up The number of adipic acid listed in recent months by a number of leading manufacturers rose by 500 yuan/ton from the previous month. In addition to the increase of 1,200 yuan/ton in December last year, the average price of adipic acid has risen by more than 10% since the end of November last year. At the same time, the load of adipic acid plants listed by Tianli Hi-tech, Shenma Co., Ltd., and Hua Lu Hengsheng, which are regarded as A-share adipic acid “Three Musketeers”, has also seen a significant increase in the load, which is expected to usher in volume and price increases. .

Among them, Henan Shenma Group's 150,000-ton/year adipic acid plant started around 50%. Last December, the settlement price was 11,300 yuan/ton, and in January this year, the listing price was 11,800 yuan/ton. Tianli Hi-tech Co., Ltd. implemented a settlement price for adipic acid in December last year at 11,100 yuan/ton, and in January of this year, the contract price for goods to be executed was 11,600 yuan/ton. In addition, Hua Lu Heng Sheng 160,000 tons / year of adipic acid plant to resume a set of operation, January listing price to 11,800 to 11,900 yuan / ton, compared with the same month last month, 500 yuan / ton.

On January 7, Tianli Hi-tech plant's 75,000-ton/year plant load was increased to 80%. The manufacturers said that this time the load was mainly due to the low temperature in the winter and fear of crystallization. However, in the industry's view, this move is not unrelated to the price increase of the product. In the “Three Musketeers,” the company’s performance elasticity is also the most affected by the price of adipic acid.

In contrast, Tianli Gaoxin's adipic acid settlement price was only RMB 10,600/tonne in November last year, when the load was also low.

The reporter learned from the industry that the strong rebound in the adipic acid market has been evident since December last year, when the average price rose by RMB 1,200/t. Analysts pointed out that the price rise of adipic acid stems from the huge cost pressure. Since July last year, domestic ** has benefited from favorable factors such as external disk support and tight supply, and the market price has steadily increased. In contrast, the adipic acid market has been losing ground, and even in November, there has been a situation that is equal to the price of raw materials, and prices have risen at a price-driven rate. At the same time, adipic acid producers have limited production and have already had results. Some time ago, with the exception of the adipic acid plant of China National Petroleum Corporation, which was basically stable, other export manufacturers cut output. After a quarter or so of production restriction, the base stock of social stocks was reduced, effectively pulling the market upward.

For the market outlook, analysts believe that the current upstream market's tight supply caused by the strong external market and cargo delay has formed double support, and spot prices have remained high. From the perspective of demand, the enthusiasm of the downstream users to prepare for orders has been improved. In particular, the implementation of contracts in the contracted households has been relatively satisfactory. At the same time, the continuous loss-making operation pattern has allowed the factory to previously form a tacit understanding of joint guarantee prices. Under the above factors, the adipic acid market will continue to pick up in the short term.

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