In June, the price of adipic acid fell weakly, leading to a decline in the market. On June 1st, the average market price of adipic acid was 8866 yuan/ton, and on June 25th, the average market price of adipic acid was 7983 yuan/ton, a decrease of 9.96% in price.

The main factors affecting the rise and fall of adipic acid market in June
On the supply side, the industry’s operating rate remained at a relatively low level in June, with an operating rate of around 63%. The tightening of the supply side has provided some bottom support for prices, but it cannot reverse the price decline in the context of extremely weak demand.
Demand side: The traditional off-season for chemical products has arrived, and downstream industries such as pulp and shoe sole raw materials have seen a decrease in operating load. Downstream companies generally adopt a cautious strategy of “replenishing inventory as needed”, with low purchasing willingness, resulting in slow depletion of social inventory and difficulty in trading high priced goods.
On the cost side: As we enter June, the international crude oil price center has slightly shifted downwards, and the cost support of pure benzene for adipic acid has significantly weakened compared to the first quarter. This makes it difficult for the price of adipic acid to replicate the cost driven unilateral upward trend in March.
In summary, the predicted results of supply and demand are that cost support will weaken, supply pressure will be moderate, and demand will weaken. In early July, the adipic acid market may stabilize and fluctuate upwards. From a technical perspective, it can be seen that the adipic acid market continued to decline in June and is already at a low level. Therefore, in early July, the overall fluctuation of the adipic acid market was dominant, with an expected price between 8000 yuan/ton and 9000 yuan/ton.