Price trend

According to the data of SunSirs list, the domestic caprolactam market price rose in the first half of June. The average ex-factory price of caprolactam on June 1 was 9,916 RMB/ton, the average ex-factory price on June 15 was 10,400 RMB/ton, and the price rose by 4.87%.

The caprolactam commodity index on June 15 was 52.31, an increase of 0.59 points from the former day, a decrease of 47.69% from the highest point in the cycle of 100.00 points (2017-03-02), and an increase of 32.77 from the lowest point of 39.40 on April 07, 2020 %. (Note: cycle refers to 2017-03-01 to now)

Analysis review   

Product: As of June 15, Shandong Luxi Chemical's caprolactam liquid price was 10,200 RMB/ton, and the manufacturer's production capacity was 300,000 tons. The actual transaction was negotiable. The price of Nanjing Dongfang Caprolactam liquid was 11,000 RMB/ton, the 400,000-ton/year plant started normally, and the caprolactam plant ran normally. The price of Baling Hengyi Caprolactam liquid was 10,800 RMB/ton, and the 450,000 tons/year device was normally started and accepted for delivery. Baling Petrochemical's caprolactam liquid price was 10,800 RMB/ton, and the 300,000-ton/year plant was normally started and accepted for delivery. The price of Fujian Tianchen Yaolong Caprolactam Liquid was 11,000 RMB/ton, and the 350,000 tons/year plant was operating normally.

Industrial chain: Upstream: Domestic pure benzene prices rose slightly in the first week of June. Crude oil and outer disk have strong support for pure benzene. Port inventories increased during the week, but the increase was reduced. In the second week of June, the price of Sinopec's pure benzene was adjusted upwards by a total of 200 RMB/ton. The spread between domestic and foreign markets has narrowed and the bottom of the market has strengthened. This week, pure benzene port stocks still rose, but the increase decreased. During the week, the price of pure benzene was strong, but the downstream market was weak, and the actual market turnover was weak.

Downstream: In the first half of June, the domestic PA6 market was relatively strong, and the spot prices of individual brands had increased. The upstream inventory of caprolactam was low, and the supply was still tight, which strongly supported the cost end of PA6. The demand for downstream slicing plants was average, and the purchasing strategy was mainly needed. The consumption of plastic products for export has increased, the trading volume of PA6 was acceptable, and merchants' profit-making sentiment was weakened.

Market outlook

Analysts of caprolactam of SunSirs believe that the current upstream raw material prices continue to rise in the previous period, and caprolactam supply is tight. The enthusiasm for the start of the downstream polymerization plant was high, and the demand for caprolactam increased. It is expected that the caprolactam market will continue to rise.

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