13 September 2012 04:49 [Source: ICIS news]
By Judith Wang
SINGAPORE (ICIS)--Asia’s adipic acid (ADA) prices are likely to rise further in September and October on the back of higher feedstock prices and growing buying activity amid the traditional peak demand season, industry sources said on Thursday.
Feedstock benzene weekly prices rose by 5% from late July to $1,170-1,225/tonne (€913-956/tonne) FOB ?xml:namespace>
Asia’s ADA prices for international-origin cargoes increased by 9% from late July to $1,650-1,750/tonne CFR (cost & freight) northeast (NE) Asia in the week ended on 12 September, ICIS data showed.
Most of Asia’s
As a result, the inventory of producers and end-users was very low as they were unwilling to build any stock amid the uncertainties in the market.
Since the start of September, end-users said they received increasing orders compared with July and August. As a result, buying activity for
“Meanwhile, the downstream users will usually build some stocks before
Major regional producers raised their offers for September shipment, but it still needs to take some time for end-users to accept the price growth, market participants said.
“As long as upstream market remains firm,
($1 = €0.78)
Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
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