China AKD Market Prices Rose (Feb 3 – Feb 9, 2022)
Feedstock: Mainstream stearic acid plants further raised offers this week, in reaction to notable rises in palm oil prices during the Spring Festival holiday. As of February 9, offers of Ruilong Brand stearic acid 1840 and 1838 from Wilmar (China) Oleo were RMB 11,800/mt and RMB 11,700/mt respectively, up RMB 500/mt W-O-W. Offers of stearic acid 1801, 1810 and 1800 from a major plant in Zhangjiagang were RMB 11,900/mt, RMB 11,700/mt and RMB 11,800/mt respectively, up RMB 600/mt W-O-W.
Supply-demand: AKD prices rose, in tandem with buoyant stearic acid prices and tightened supply caused by unit shutdowns. As of February 9, AKD1840 market prices closed at RMB 24,500-25,000/mt in East China, up RMB 500/mt W-O-W.
AKD market players show bullish anticipations towards the coming market, responding to mounting cost pressure and reducing market supply.
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