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SunSirs: PA66 Market Was Quite Cold (March.1 to April.1)
April 03 2020 12:59:57SunSirs(Daisy)

The market trend of PA66 in China is weak in March, and the price is mostly reduced. As of April 1, the average price of mainstream offer of PA66 Zhusu grade is around 21850.00 RMB/ ton, down 2.89% from the average price level in early March.

In March, the weakness of the upstream caproic acid market of PA66 expanded, and the price remained in a narrow range in the first half of the year, with downward adjustment being the main trend. At the end of the month, the caproic acid distribution price plunged due to the impact of the manufacturers' sharp reduction in settlement price and the listing price in April. 

At present, the market is still generally affected by public health events, supply and demand two not prosperous, with transaction into freezing point. The price of adipic acid has reached its lowest level in nearly a decade, and the overstocking and weak demand are the main driving forces for the sharp decline in the price of adipic acid. 

On the cost side, the price of pure benzene continues to fall, making the adipic acid market worse. Downstream demand has yet to improve and operating rates have remained historically low throughout the month. 

In addition, social inventory pressure increases, external demand declines sharply, and the export of adipic acid is difficult to find a breakthrough. Expected in the short term the price of adipic acid is still weak operation. 

This month, the market atmosphere of PA66 has become more desolate in the context of the imbalance between supply and demand, and the market is more negative. On the supply side, PA66 spot performance is sufficient, and logistics has not been a resistance. And downstream factory starts load low level is this month's demand surface hard injury. Floor trading just need to give priority to, trading news is rare, did not hear large-scale stock.

Market Forecast: SunSirs analysts think that March domestic PA66 market line continued to adjust to the weak. The spot price of upstream adipic acid has a big decline, which is not good for the cost of PA66. The rework rate of the downstream factory still needs to be improved, the replenishment operation just needs to be given priority to, and the demand is very limited. Market atmosphere supply exceeds demand, business confidence in the future is insufficient. PA66 market is expected to be difficult to improve in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

 

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