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Chinese adipic acid prices shed 36% over the past two months

November 07/2011

(ICIS) -- Adipic acid prices in China have shed 36% over the past two months because of weak demand that will likely to continue for the remainder of the year, market sources said on Monday.
Spot values declined by around yuan (CNY) 7,000/tonne ($1,104/tonne) from end-August to CNY12,200/tonne at the end of October, according to ICIS data.

Surplus adipic acid supply in the international markets found its way into China in the months of August and September, dampening domestic prices of the material given lacklustre demand, market sources said.

China imported a total of 9,664 tonnes of adipic acid in September, up 31% month on month and more than triple the volume recorded in August, data from China Customs showed. Domestic production was lower than usual since August but this failed to halt the slide in prices of adipic acid.
For the three months covering August-October, Chinas output of adipic acid totalled 168,100 tonnes, according to Chemease, an ICIS service in China.

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