Sep. 26, 2022
This week, the quotations of upstream citric acid enterprises continued to decline, and the actual order price was weak. There are adjustments to the start-up of enterprises, and the inventory level is acceptable.
Market analysis of raw material corn for citric acid
This week (September 16-September 22, 2022) the national weekly average price of corn was 2727.51 yuan/ton, an increase of 4.47 yuan/ton, or 0.16%, from the average price of last week.
It is expected that in Henan and Shandong regions next week, due to the continuous increase in the listing of new season corn, the market may have a downside of 20-40 yuan / ton in the environment of loose supply.
Price trend forecast: The current price of citric acid is below the cost line, and the price cuts of upstream enterprises are gradually reduced, or the supply pressure can be relieved by adjusting the start of construction. The mentality of downstream enterprises of citric acid is relatively cautious, and a few have a bottom-hunting mentality. In terms of production cost, the price of corn and chemical auxiliary materials has weakened, and the production cost of citric acid has declined, which weakened the bottom support for finished products. Taking into account the supply and demand situation and the mentality of upstream and downstream, it is expected that the citric acid market will operate weakly next week, and the decline will be limited.
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