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SunSirs: Pre Holiday Stocking, China PA6 Market is on the Rise
January 29 2024 11:34:23SunSirs(Selena)

Last week, the domestic PA6 market rose, with most spot prices adjusted. According to data monitoring from SunSirs, as of January 26th, the domestic benchmark price of PA6 mixture was 14,775 RMB/ton, with a +0.68% increase or decrease compared to the average price level at the beginning of the month.

Recently, the market price of caprolactam has been weakly adjusted. The price of raw material pure benzene has increased, and the cost side price has strengthened. During the week, some caprolactam units underwent short repairs. Although the market supply remained unchanged from the previous week, there were expectations of contraction in the future, resulting in reduced pressure on the supply side. Overall, the caprolactam market has remained stable and improving this week, with industry players leaning towards a bullish outlook for the future. Caprolactam has provided strong support for the cost side of PA6.

Last week, the load of PA6 production enterprises remained stable with little movement, with an average operating rate of over 79%, which showed a narrow increase compared to last week. The market supply is relatively stable compared to the previous period, and the on-site supply is abundant. The inventory level is still not high, the pressure on suppliers is not significant, and there is still support for PA6 spot goods.

In terms of demand: Downstream, the load of the weaving and spinning industries has fallen, especially in the weaving sector, with an average load position of 55%, a significant decline compared to the previous period. In terms of spinning, the operating rate will be reduced by 2% to around 79%. The willingness of terminal enterprises to stock up has increased, and overall trading is focused on forward contracts. In addition, the replenishment operations of midstream traders have released some demand, leading to an increase in on-site buying gas and increasing support for the demand side of PA6.

Last week, the PA6 market gradually rose. Caprolactam prices have remained stable with minor fluctuations, but expectations are strong, providing strong support for the cost side of PA6. The load of domestic polymerization plants remains basically unchanged, and the inventory position remains low. The current demand for terminal operations is increasing, and pre holiday stocking is increasing. It is expected that the PA6 market will be mainly strong in the short term.


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