Adipic Acid Shows a Stable Prices Trend in Europe and the US
- 23-Feb-2023 7:35 PM
- Journalist: Peter Schmidt
Since the beginning of February 2023, Adipic Acid has observed a majorly stable price trend in Europe and the US owing to the steady supply of the product in these regions.
The Adipic Acid market in the Eurozone was balanced by an adequate supply and high product availability in the market. Companies are regaining confidence in the German market, and energy supplies remain secure and stable. The downstream manufacturers observed a persistently steep decline in export sales, which was led by a decline in new orders. In February, supply-chain tensions significantly eased, and average input costs for goods producers decreased.
Germany's composite output index saw a slight rise in February, indicating a slight uptick in business activity. This marked the first time in eight months that the index exceeded the threshold points that distinguish growth from contraction, despite indicating only a modest expansion rate.
In February 2023, German economic sentiment increased once more to 28.1 points, an increase of 11.2 points from the previous month, as per the ZEW institute. This is the second month with a substantially positive outcome and the fifth increase in a row.
The ChemAnalyst found that FOB Hamburg, Adipic Acid cost around USD 3270 per MT during the week ending February 17, 2023.
Since February, the Adipic Acid price trend in the US has been stable due to its abundant availability in the domestic market. The downstream Polyamide 66 industry also observed a steady price trend in the domestic US market. Additionally, a negative price trend brought about by an increase in natural gas production and a decrease in demand in the US supports the petrochemical commodities, including Adipic Acid. Regardless, unexpectedly, business activity in the US rose to its highest level in eight months in February 2023.
Experts estimate that the price of Adipic Acid during the week ending February 17, 2023, was approximately USD 2705/MT FOB Texas.
According to the experts, Adipic Acid prices are expected to the intact and stable with negotiations in Europe and the US in the coming weeks. Additionally, the material is being purchased by the buyers on a need-by basis.