SunSirs: Weak Demand, PA6 Price High Callback in China

According to the data of SunSirs, the domestic PA6 market has fluctuated recently, and the spot price of each brand is up and down. As of November 24, the mainstream offer price of 2.75-2.85 was about 12,266.67 RMB/ ton, which was 13.58% higher than the average price at the beginning of the month.

Recently, the price of caprolactam in the upstream of PA6 has risen, and some brands are in high level. As of November 24, the average price quoted by caprolactam sample enterprises of the business community was 10,400 RMB/ ton, an increase of 6.12% compared with the average price at the beginning of the month. The raw material of pure benzene continued to follow styrene last week, with a wide rise first and then a small decline. The overall price of pure benzene was higher than before, which supported the cost of caprolactam. Far upstream international crude oil also rose, benefiting the products of the chemical industry chain. At present, caprolactam inventory continues to be low, but caprolactam operating rate is more than 80%, and the load is high. In addition, the enthusiasm of downstream factories for replenishment has fallen. Although the multiple positive in the market has pushed up the price of caprolactam, there is a trend of weakening upstream and downstream, which may limit the future market growth.

Upstream caprolactam rose narrowed, high finishing. But on the whole, the price is still high, and there is little change in the support of PA6 cost. At present, the market of PA6 is falling, and all brands are generally reduced in a narrow range. The operating rate of downstream nylon filament is acceptable, but the factory has a psychological resistance to high price goods, replenishment operation is cautious, and the demand is weak. Traders have a strong atmosphere of selling goods, which has impacted the offer of PA6 market.

SunSirs analysts believe: recent domestic PA6 market high callback. The upstream caprolactam narrowed, and the cost end support of PA6 was acceptable. Downstream factories just need to take delivery of goods, and they are in conflict with high price goods, the market is generally trading with interest. Analysts expect the spot price of PA6 in China will continue to moderate in the short term.

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