Core viewpoint
The market basically remained stable after the holiday. The increase in corn prices provided some support to the price of citric acid. Enterprises maintained a wait-and-see attitude and adjusted prices cautiously. The enthusiasm for replenishment in the middle and downstream links was average, and the holiday inventory digestion was limited, so the market-driving effect was not obvious. It is expected that prices will remain stable in the near future, and the situation of raw materials and downstream purchases will be observed.
Citric acid price analysis
Last week, the citric acid market price continued to run steadily, terminal demand was weak, downstream enthusiasm for taking goods was low, and the demand for replenishment was maintained. As of Thursday this week, the mainstream transaction price of food-grade monohydrate citric acid in the market was 4800-5200 yuan/ton, and the price reference of food-grade anhydrous citric acid was 5200-5600 yuan/ton.
Related product analysis
Corn market analysis
Last week, the national corn market prices varied from region to region. Last week, the price of corn in Northeast China stabilized from weakness. New grains in eastern Heilongjiang have been put on the market one after another, and the amount of wet grains has been concentrated. The arrival volume of deep processing enterprises has increased, and prices have been gradually reduced.
Corn prices in North China are running strong. At present, most of the corn harvest in North China has been completed, the market supply pressure has been significantly reduced, and farmers’ reluctance to sell has been significantly increased. The quotations of trading companies in ports in East China and South China followed the downward trend of North Port prices. There is no spot in the Yangtze River area, and pre-sales in November have started. Northwest and North China grains have fallen too much in the early stage. In addition, Xinjiang grain logistics has been blocked, which has supported prices. The quotations of Northwest and North China grains in the southwest region have risen.
Citric acid market outlook
In terms of raw materials, corn prices fluctuated, and the overall corn prices in North China increased, which temporarily provided favorable support to prices.
In terms of supply, manufacturers accumulated inventory during the holidays, downstream trade was on holiday, and the circulation and digestion of supply was slow.
In terms of exports, the sales were average, and some had bullish expectations. Downstream demand was weak, and traders just needed to replenish stocks and maintain low inventory. The digestion of supply before the holiday was limited, downstream inventory was low, and the market was not active in replenishing stocks after the holiday. The favorable factors were limited, and the price basically stabilized. In the short term, the market has limited positive factors, and it is expected that prices will continue to run steadily in the near future.
Post time: Oct-14-2024