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SunSirs: China PA6 Market was Positive in early September
September 08 2021 15:22:48SunSirs(Selena)

According to the bulk list data of SunSirs, the domestic market trend of PA6 was strong in early September, and the spot prices of various brands rose. As of September 3, the mainstream offer price of 2.75-2.85 for Zhongtong was about 15,633.33 RMB/ ton, an increase of 1.08% over the average price at the beginning of the week and 44.61% over the same period last year.

Industrial chain: in the upstream, caprolactam fell at the cost end due to the decline of raw material pure benzene in the early stage. Recently, the price of pure benzene has improved, and some caprolactam production lines have been put into maintenance, reducing the supply and driving up the spot market. The downstream just purchased by demands. Caprolactam market is expected to strengthen in a narrow range in the short term.

Last week, the upstream caprolactam price continued to rise, the cost side support was positive, and the PA6 spot price followed up the raw material side. At present, the operating rate of PA6 industry is low and stable at more than 60%, which is due to the cost pressure of caprolactam price on PA6 in the early stage. So far, the profitability of polymerization plants is still poor, and most manufacturers have no profit or loss. In terms of end-users' goods preparation, they have followed up stimulated by the recent market rise. On the whole, they still just need to take goods to maintain production. Merchants tried to increase their offer, and the wait-and-see atmosphere was still heavy.

SunSirs analysts believe that caprolactam rose to support the high cost side of PA6 in early September, which was beneficial to the rise of PA6 spot price. On the demand side, there are some follow-up goods preparation operations. At present, the fundamentals of PA6 market are relatively stable. It is expected that the spot price of PA6 may be strong in the short term in China.


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