1. Price Trend

According to the data from SunSirs' bulk Commodity data base, entering the end of November, the domestic PA66 market is stable, and spot prices are basically sideways. Up to November 22, the average price of mainstream PA66 mid-viscosity injection molding grades is around 23,100.00 RMB/ton, which is flat compared with the beginning of the week.

2. Market Analysis

Upstream: According to the data from SunSirs, the domestic adipic acid market has been sideways recently, and the price has not changed much. But it still traps in decline trend. From a fundamental point of view, loose supply and weak demand are still the main factors plaguing adipic acid out of the rebound. Meanwhile, the upstream raw material market has not seen any positive results. At present, the weak downstream demand for adipic acid, associated with the continuous increase in supply, has increased the pressure on social inventory. The market has been in the destocking phase since October. Unfortunately, the effect of destocking for two consecutive months is not obvious. And the market inventory still maintains a high level, which is another important reason why the price of adipic acid has not rebounded.

From A Regional Perspective: the sluggish market prices in East China and South China remain, and some dealers have weakened slightly, but the range has narrowed. The market sentiment is slightly deserted, with dealers actively giving profits to shipments, and the market remained weak and volatile. At present, the downstream market is still generally on the wait-and-see attitude, and transactions are slightly deadlocked. In addition, the upstream cost has not changed much. Although pure benzene has ended the oscillating downward pattern and rebounded slightly, the intensity has not been great. And it has not brought much positive effect to the adipic acid market. This may explain that the price of adipic acid remains weak. Therefore, it is recommended to pay close attention to the destocking effect of the market and the follow-up of downstream demand. It is expected that the market will continue to be weak in the near future. Currently, the domestic PA66 market is running sideways. The spot supply is abundant, and the downstream factories still purchase based on demand. The inquiry intention is low, and the demand has not improved. The market is generally buoyant, and the players' mentality is blue, and trading on the floor is average.

3. Market Forecasting

SunSirs’ analysts believe that the recent domestic PA66 market is stable. The upstream adipic acid trend is temporarily stable, and there is limited support for the cost of PA66. The enthusiasm for downstream stocking has not improved, and the replenishment is just needed. The market is generally buoyant, and the wait-and-see mentality of the operators is pervasive . It is expected that the PA66 disk will be relatively stable in the near future.

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