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SunSirs: Raw Material Product Market Rises, China PA6 Rise Continues

February 10 2021 10:39:07     SunSirs (Selena)

According to the data of SunSirs, the domestic PA6 market was active in early February, and the overall price level increased significantly. As of February 9, the mainstream offer price of the sample enterprises for Zhongyou 2.75-2.85 was about 13,333.33 RMB/ ton, up 4.99% from the average price at the beginning of the month.

Upstream, the current domestic caprolactam price is rising rapidly, the market is positive. In terms of raw material pure benzene, the high inventory of enterprises in the early stage emptied rapidly, and the pure benzene inventory of East China port continued to decline. In addition, the unplanned shutdown and delayed restart of some units in East China led to the decrease of supply and the rapid rise of prices. In addition, the reduction of transportation before the festival and the increase of freight also promoted the price of pure benzene to rise. The price of pure benzene strongly supports the cost of caprolactam. In addition, the improvement of caprolactam supply was limited, and the tight supply pattern did not change substantially. Domestic caprolactam cost side, supply side, demand side three good convergence, clear market direction. It is expected that caprolactam market will continue to run high after the festival.

Raw material caprolactam market is strong, the cost of PA6 support is strong. At the beginning of this month, the demand for PA6 chips again appeared a small peak before the festival. At present, the overall operating rate of PA6 is high, and the inventory of polymerization plant is not under pressure, and some of them are oversold. At present, although the downstream factories have basically completed the procurement of PA6, the near and far cost side is consistently strong and upward, and the market direction is clear. Spinning and other factories were basically on holiday, the operating rate dropped rapidly, the downstream of engineering plastics and modified plastics were also shut down, and the on-site trading began to fade.

SunSirs analysts believe: in early February, China domestic PA6 market was strong. On the demand side, the demand for downstream goods preparation was large at the beginning of the month. Although the current business is basically on holiday and the trading volume turns weak, the fundamentals are still strong. The price of PA6 is expected to remain strong after the Spring Festival in China.

 

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