SunSirs: Demand Weakened, China PA6's Rise was Limited in October

According to the data of SunSirs, China domestic PA6 market fluctuated and rose in October.

The upstream caprolactam market price of PA6 fluctuated in October and rose in the second half of the month. Starting from the second half of October, caprolactam supply decreased, and the raw material pure benzene was driven by styrene, so the upstream was good for caprolactam spot. But at the end of the month, the demand fell and the price fluctuated slightly. At present, the price rise of caprolactam slowed down, and the raw material pure benzene market began to fall. It is expected that the market trend of caprolactam will be weak and stable in the short term.

At the beginning of October, PA6 slice generally continued the low horizontal trend. After the festival, the market power, the upstream lactam many enterprises overhaul or reduce the negative, supply reduction. Sinopec's high-end caprolactam rose to increase market confidence. The rapid expansion of caprolactam in the middle of the month is good for PA6, while the far upstream crude oil is not good for the chemical industry chain due to the deterioration of the European and American epidemic situation. In October, the downstream staple fiber and wrapping yarn enterprises were more active in resuming work after the Festival, and then the replenishment demand failed to maintain. At the end of the month, the conventional spinning chip order was weak, and the PA6 market weakened again.

Market Forecast:

SunSirs analysts believe: China domestic PA6 market rose in October after falling, spot prices rose overall. The recent trend of upstream caprolactam has been adjusted, and the support for the cost side of PA6 was general. Downstream factories mainly took goods just as needed, and the upsurge of returning to work after the festival was not continued, and the purchasing at the end of the month was weak. It is expected that the spot price of China PA6 will stabilize temporarily in the short term, which does not rule out the possibility of falling in the later period.

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