Price trend

According to the data of SunSirs, the domestic PA66 market has risen recently, and the spot prices of various brands have increased. As of August 22, the average ex factory price of PA66 medium viscosity injection molding grade sample enterprises of business agency was about 21,500 RMB/ ton, with an increase or decrease of +3.61% compared with the average price at the beginning of the month.

Market analysis

Industrial chain: on the upstream side, although the recent performance of domestic adipic acid is weak, the market tends to build a bottom and stabilize. At the beginning of last week, the market rebounded slightly, and the price stabilized at the weekend. The operating rate of adipic acid is low, and the inventory pressure of the manufacturer is slightly relieved. In the later stage, pure benzene is expected to bottom out, which may boost the confidence of the downstream to a certain extent. Cost and supply will bring rebound demand for adipic acid. However, terminal consumption is still weak, and downstream factories purchase on demand. The shipment of this foreign-made adiponitrile was carried out step by step and began to replace some imported sources.

The upstream raw material adipic acid market is still weak, and the cost side support of PA66 is weak. In terms of industrial operation rate, as the profit of PA66 enterprises continues to be under pressure, the load level of domestic PA66 industry is low, and some regions have policies such as power limitation and peak shift production, the current market spot supply shrinks, and the easing of supply pressure boosts the spot market. The inventory position of the port is acceptable, and the arrival volume of overseas goods is general. On the demand side, at present, terminal enterprises tend to follow up with goods to maintain production, and they are still resistant to high price goods. The traditional off-season is coming to an end, and it takes time for downstream factories to expand their demand. Merchants tried to increase their shipments, and the on-site transactions were slightly light. The reduction of low-end goods supply strengthens the mentality of merchants.

Market forecast

SunSirs analysts believe that the spot price of PA66 has risen recently. The market of adiponitrile at the raw material end is weak, and the cost end of PA66 is not strongly supported. The load of PA66 enterprises is on the low side, the situation of excess supply on the site is beginning to improve, and the demand side is generally taking goods. It is expected that PA66 will continue to rise in the short term due to the reduction of supply and the approaching peak season in China.

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