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China Adipic Acid Weekly Report Sample
May 11, 2022    [Source:PUdaily]

Market Overview

This week, China adipic acid market consolidated at low level. The prices of feedstocks oil and benzene fluctuated, providing unclear guidance for the movement of AA price. As Shandong Haili Chemical opened a new production line, the industry operating rate rose. Demand from downstream manufacturers was sluggish as they kept operating rates low as a result of the impact of COVID-19 pandemic and blocked transport, although the May Day holiday was approaching. As settlement was approaching, market participants adopted a wait-and-see strategy, with some manufacturers reducing prices to facilitate sale. On April 29, the prevailing offers in East China stand at CNY 11,700-11,900/ton DEL by bank draft payment.

Downstream Industry   

This week, China PU resin market for synthetic leather held steady. The price of feedstock DMF consolidated; those of feedstocks pure MDI and AA ran stable-to-weak; and that of BDO market continued to fall. Thus the overall cost pressure declined slightly. With operating rates standing at about 50%, manufacturers in Jiangsu and Zhejiang placed small orders only to meet immediate needs, although the holiday was approaching. This is mainly because orders from end-use sectors were significantly fewer compared with the same period of last year and transport was blocked. With significantly lower operating rates than the normal levels, downstream synthetic leather manufacturers will have lower-than-expected demand for synthetic leather resin. Demand from export markets declined as supply chains in Southeast Asia recovered. On April 29, offers for conventional wet-process resins in East China market stand at CNY 14,500-15,000/ton DEL by bank draft payment. And those for dry-process resins stand at CNY 15,200-15,500/ton DEL by bank draft payment.
 
This week, China market for sole resin moved sideways. The prices of feedstocks pure MDI and AA remained stable-to-weak; the price of BDO market continued to fall. Thus the overall cost pressure decreased on sole resin manufacturers. As inquiries increased somewhat the industry operating rate rose. But the demand still remained sluggish due to the impact of COVID-19 pandemic and high inventories at downstream manufacturers. As market participants adopt a wait-and-see strategy, confirmed orders-based trading is thin. On April 29, the offers for conventional PU resins for outsoles A material in East China market stand at CNY 15,000-17,500/ton DEL by bank draft payment; offers for conventional PU resins for outsoles B material stand at CNY 22,500-26,500/ton DEL by bank draft payment.
 
 
Spot prices
Table 1: Weekly Adipic Acid Price Comparison between in China (CNY/ton, Ex-work)
Region
29thApril
22ndApril
Change
E-China
11,700-11,900
11,800-12,000
-100,-100
S-China
11,700-11,900
11,800-12,000
-100,-100
Note:
1. n/c refers to “No Change”
2. Prices are from traders’ quotations

3.CNY Cost=USD CIF price *(1+17%)*(1+3%) *Exchange Rate+ Import Port Charge (Only available for calculating the costs

 

Click here for a sample:

userfiles/China Adipic Acid Weekly Report Sample.pdf

 

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