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SunSirs: Market Atmosphere was Weak, China PA66 market was Weak in May
June 02 2021 11:07:25SunSirs(Selena)

According to the data of SunSirs, the domestic PA66 market fell in May, and the spot prices of various brands had a considerable reduction. As of May 31, the average offer price of PA66 medium viscosity injection molding sample enterprises was about 39,900 RMB/ ton, a decrease of 3.04% compared with the average price at the beginning of the month, and a rise of 112.23% compared with the same period last year.

In terms of upstream adipic acid, domestic adipic acid prices fell sharply in May. As the market enters the off-season, the pressure time of adipic acid supply may be prolonged, and the price is easy to fall but difficult to rise. It is not ruled out that the range will continue to move down.

The raw material adipic acid runs weakly, and the cost support of PA66 is weakened. In the middle of May, the market of PA66 began to decline gradually, and the pattern of weak supply and demand in the industry ran through the last two months. The positive reaction of the market to the tightening of supply is relatively flat, and the end users have a strong wait-and-see atmosphere, which contradicts the high price supply. Although the overall inventory of PA66 is not high, the profit margin is compressed and the market atmosphere is not active.

SunSirs analysts believe, in May, the cost pressure of domestic PA66 market was high, the pattern of lack of demand did not improve, and the profit situation of polymerization enterprises and end users was poor. At present, the market atmosphere is weak with weak supply and demand. The downstream strategy of taking goods tends to be rigid demand, taking goods as they are used, and there is no active hoarding. In the near future, the production capacity loss is good for the supply side, but the on-site delivery is not smooth, and the price of real orders is lower under the supply and demand game. China PA66 market is expected to continue weak trend in the short term.

 

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