Price trend
According to the price monitoring of SunSirs, on July 9, the average mainstream manufacturers’price of salicylic acid (industrial grade) was 14,500 RMB/ton, a slight increase of 1.75% from the beginning of the week, a decrease of 1.14% from the previous month, and a decrease of 1.14% from the same period last year.
Analysis review
Entering July, the market for salicylic acid continued to be stable. Some companies slightly increased the price of salicylic acid, but most companies still maintained their previous quotations, and the overall price fluctuated little. Recently, the price of raw material phenol has risen, and the cost support is relatively strong. However, due to factors such as strict environmental protection during the July 1st holiday and weakening demand in the off-season, the industry has a strong wait-and-see sentiment, and some manufacturers have stopped their quotations. As of July 9th, the average price of salicylic acid (industrial grade) from mainstream manufacturers was 14,500 RMB/ton, the quotations of industrial grade salicylic acid were mostly in the range of 13,000-15,500 RMB/ton, and the quotations of pharmaceutical grade salicylic acid were mostly in the range of 23,000-26,000 RMB/ton, the quotations of sublimation grade salicylic acid are mostly in the range of 17,200-20,000 RMB/ton, and the price of salicylic acid of various grades had not changed much.
In terms of raw materials, the focus of domestic phenol market negotiations continued to move upward. With the favorable support of the overall price increase of the factory, the confidence of holders greatly increased, the market offer rose sharply. Downstream terminals were a little cautious when chasing the rise, the bids were still insufficient, and the actual market transactions were average.
Market outlook
The salicylic acid analyst of SunSirs believes that the current price of raw materials is rising, and the cost support has increased, but the weaker downstream demand in the off-season and the recent stringent environmental inspections have stabilized price fluctuations. It is expected that the salicylic acid market will continue to be stable in the short term, supplemented by small fluctuations.
