During February xxxx, the price of Adipic Acid remained in a bearish pattern, largely due to weak orders from downstream sectors and other economic factors impacting consumer sentiments. Despite an increase in the cost of raw material Benzene approximately by xx on a FOB Hamburg basis, and feedstock Cyclohexanone prices skyrocketed during this period approximately xx over the previous week in the European market, there was no significant improvement in the demand for Adipic Acid. In the FOB Hamburg Basis, the Adipic Acid settled by xx decline during the week ending March x, xxxx.
Midway through Qx, raw material deliveries were delayed, purchasing costs increased, and production capabilities were disrupted by the persistent effects of the Red Sea crisis, which presented difficult conditions for European manufacturers. A number of manufacturers mentioned that they had to make the difficult decision to either pay more to source from closer...
