1、 Price trend
According to the commodity market analysis system of Shengyishe, as of May 11th, the price of stearic acid was 8875 yuan/ton, a decrease of 75 yuan from the previous working day, a decrease of 0.84%, and an increase of 100 yuan from last week, an increase of 1.14%, with an overall narrow range consolidation. As of May 10th, the mainstream market price of stearic acid (domestically produced, 1840) is around 9200-8500 yuan/ton; The mainstream market price for stearic acid (imported brand, 1801) is around 9900-9000 yuan/ton.
2、 Market analysis
Cost wise: After the May Day holiday, domestic palm oil futures were boosted by the external market and saw a rebound, with the spot market following suit. Due to the lackluster demand for terminal oil consumption, the palm oil futures market experienced a correction after rebounding. This week, the spot price of palm oil fluctuated downward, with the average market price dropping to 7770 yuan/ton, a decrease of nearly 2%.
Demand side: According to the commodity market analysis system of Shengyishe, as of May 11th, the mainstream price of PVC was 5610 yuan/ton, an increase of 54 yuan or 0.97% compared to the previous week. After the holiday, some pre maintenance factories began to resume production, with sufficient inventory and weak downstream.
3、 Future Market Forecast
The upstream palm oil market is oscillating downward, with weak support for stearic acid costs. In addition, downstream demand side confidence is not high, but the terminal mentality is relatively cautious, making it difficult for transactions to improve significantly. There are dual bearish factors, and it is expected that the spot market for stearic acid will experience a slight decline in the short term.
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