Adipic Acid prices exhibited mixed trends globally during the second half of November 2024. While the U.S. market experienced a notable price increase, the European and Chinese markets faced downward pressure. The divergence in regional trends reflected varying demand dynamics, feedstock cost fluctuations, and logistical factors, highlighting the fragmented nature of the global market. The subdued global freight environment further influenced pricing, with reduced transportation costs impacting market sentiment.

In China, Adipic Acid prices continued their downward trajectory due to weak cost support from upstream raw materials. Although benzene prices improved slightly, the cyclohexanone market remained weak, failing to stimulate any significant upward momentum. Downstream demand, particularly from the textile sector, was subdued as prolonged summer conditions disrupted typical procurement cycles. While typhoon-related supply chain disruptions eased, shipping schedules continued to face delays. Freight rates to the U.S. West Coast declined as vessel availability increased in late November, further weighing on market sentiment. However, intra-Asian freight rates began to rise toward the month's end, driven by Chinese New Year preparations and constrained capacity from blank sailings. This tightening in logistics is expected to result in potential shortages as demand builds closer to the holiday season, which could support Adipic Acid prices in the coming weeks.

In Europe, the Adipic Acid market continued to face challenges, with prices initially declining before stabilizing. The region's subdued demand, driven by inflationary pressures and weak performance in the automotive and textile sectors, limited procurement activity to essential restocking. The competitive pressure from cost-efficient Chinese imports added to market challenges, while the feedstock benzene market remained steady, offering no significant cost support. Ample inventory levels of Adipic Acid in Europe ensured a balanced supply-demand dynamic, further contributing to the lack of price momentum.

The U.S. market stood out, with Adipic Acid prices increasing amid strong demand from the automotive sector. Rising consumer confidence, improved vehicle affordability through declining loan rates, and increased incentives boosted procurement activity. Strategic inventory stockpiling, in anticipation of tariff changes under the new administration, supported the Adipic Acid price uptrend. Freight conditions added to the upward pressure, with anticipated rate hikes in December signaling additional cost implications for manufacturers and importers.

Looking forward, global Adipic Acid prices are likely to remain under pressure in China and Europe, given the subdued downstream demand and ample supply levels. However, the U.S. market may continue to see upward price trends driven by automotive sector strength and the impact of tariff-related policies. Freight rate movements, particularly during the holiday and pre-Chinese New Year season, will play a pivotal role in shaping logistics costs for Adipic Acid and, consequently, market pricing.