Asia Jan adipic acid contracts ease 8% on weak demand

09 February 2009 09:23  [Source: ICIS news]

SINGAPORE (ICIS news)--Asia's January adipic acid (ADA) contracts fell by about 8% to $1,100-1,150/tonne (€847-886/tonne) from December due to persistent weak demand as well as soft spot numbers, buyers and producers said on Monday.

“Demand is still very weak in a slow moving market. A reduction of $100/tonne CFR (cost and freight) NE Asia (northeast Asia) is predictable as end-users hardly make bulk purchases amid uncertain market outlook,” said a downstream polyurethane producer.

December contracts were concluded at $1,200-1,250/tonne CFR NE Asia, down $100-150/tonne from November.

Adipic acid is primarily used in the production of nylon 6,6, as well as in the manufacturing of polyurethanes and polyester resins.

Major adipic acid suppliers to northeast Asia include Asahi Kasei, Invista, Rhodia Polyamide and BASF.

($1 = €0.77)

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By: Yu Guo
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