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SunSirs: Strong Cost Side and Good Transmission, China PA6 Market Goes Up
September 19 2023 10:10:57SunSirs(Selena)

In September, the domestic PA6 market in China was positive, with spot prices generally rising. According to data monitoring from SunSirs, as of September 15th, the mixed benchmark price of PA6 in China was 14,775 RMB/ton, a decrease of +4.79% compared to the average price level at the beginning of the month.

Recently, the market price of caprolactam has increased significantly. There has been a significant increase in upstream pure benzene, and the cost of caprolactam has been boosted. In addition, the market trading remained relatively active in the early stage, and under the dual benefits, caprolactam continued to rise. The overall fundamentals are improving, and it is expected that the price of caprolactam will continue to rise in the short term, providing strong support for the PA6 market.

The production enterprises have been operating horizontally in terms of load in this cycle, with an average operating rate of around 75% in China. The market supply is relatively flat compared to the previous period, but the inventory position continues to decline, and the supplier's support for spot goods is still acceptable. The factory price has increased and the price has been increased.

In terms of demand: Downstream, the load of the weaving and spinning industries has basically increased slightly, but has remained stable, with an overall load position of around 65%. The actual transaction level is still acceptable, but the buyer's acceptance of the increased price has decreased, and the circulation speed of some sources of goods has been affected. The wait-and-see atmosphere for terminal stocking has increased, and overall support for the demand side of PA6 slicing has loosened.

The PA6 market saw a significant increase in mid September. The price of caprolactam has risen strongly, and the cost support for PA6 has strengthened. The domestic polymerization plant has stable load, abundant supply, and inventory has been digested. In terms of demand, it is average, but downstream stocking enthusiasm is constrained by high prices. It is expected that the PA6 market may continue to be strong in the short term due to strong cost support.


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