There are signs of a pullback after the price of stearic acid continued to rise in March

1、 Price trend


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According to the monitoring of the commodity market analysis system of Shengyishe, after the continuous rise of stearic acid prices in March, there are now signs of a pullback. As of March 29, the mainstream price of domestic stearic acid (1840) was 17700 yuan/ton, a decrease of 1.58% from last week, an increase of 1.78% from March 1, and an increase of 4.62% from January.


2、 Market analysis


Cost side: In March, palm oil prices first rose and then fell, with the highest point overall rising by nearly 7%, and the average price rising to 8400 yuan/ton. At the end of the month, the external futures market weakened, and the oil palm oil futures market fell one after another, with spot prices mainly following the downward trend. The average price of palm oil in the market has dropped to 8260 yuan/ton, a decrease of over 3%,


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Demand side: The PVC spot market prices have fluctuated this month and ended with a downward trend. The price range is between 5608 yuan/ton and 5580 yuan/ton. From the demand side, although domestic demand has basically recovered to pre holiday normal, the overall performance is still slightly weak. The market inquiry enthusiasm is average, and downstream markets are mostly wait-and-see, just in need of goods


3、 Future Market Forecast


The overall performance of upstream stearic acid in March was still good, with solid support provided by the cost side at the beginning of the month. At the end of the month, the external futures market weakened, and the support from the cost side gradually weakened. The import volume of stearic acid in February was 18337.57 tons, and the imported goods continued to arrive at the port, while inventory remained abundant. However, downstream factories have shown some resistance towards high priced raw materials during procurement. It is expected that the stearic acid market will remain strong in April due to the impact of lower costs.

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