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SunSirs: Upstream Demand was Weak, China PA6 Market was Down
September 25 2020 07:52:21SunSirs(Selena)

According to the data of SunSirs, China domestic PA6 market fluctuated and fell in mid September, and the spot prices of various brands declined. As of September 22, the mainstream offer price of 2.75-2.85 from traders was about 10,650.00 RMB/ ton, a decrease of 3.18% compared with the average price at the beginning of the month.

Analysis of Influencing Factors:

According to the data of SunSirs, some of the upstream PA6 caprolactam enterprises have resumed production recently, and the spot supply has increased, and the domestic caprolactam price has fallen in mid September. As of September 22, the average ex-factory price of caprolactam was about 9,516.67 RMB/ ton. The upstream pure benzene continued consolidation since mid September, and then with the rise of crude oil, the price center rose and the inventory of enterprises decreased. It is expected that caprolactam market will be stable and moderate in the short term, and it is suggested to pay attention to terminal demand.

In mid September, the market of PA6 was down, and the price of upstream lactam fell. The recent trend of far upstream crude oil declined, and the support of cost side weakened. In addition, the global public health events have a rebound trend, the overall performance of the external market is negative, and the market lacks good news. The demand of PA6 chips is general, and the consumption of downstream factories is not high. Although the overall operating rate of nylon filament has increased recently, the overall demand is weak, and the transaction of high price chips is not good. The market is negative, business confidence is not enough.

Market Forecast:

SunSirs analysts believe: China's PA6 market weakened in September, the spot prices of various brands mainly fell. The price of caprolactam in the upstream fell, and the cost side support of PA6 weakened. Downstream factories purchase on demand, adnf business mentality is not strong. It is expected that China PA6 market will be affected by multiple bearish in the near future, or will continue the weak trend.


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