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SunSirs: Strong Cost Side, China PA66 Market is Boosting
January 29 2024 15:21:10SunSirs(Selena)

Last week, the domestic PA66 market showed an upward trend. According to data monitoring from SunSirs, on January 26th, the domestic benchmark price of PA66 mixture was 20,666.67 RMB/ton, with a price increase or decrease of +0.65% compared to the beginning of the month.

Last week, the PA66 market turned sideways and saw a low production line operating rate. The overall industry load was around 61%, unchanged from last week. The supply of goods in the market was tight during the week, and the inventory position was average. The pricing operation of enterprises was increased, and the support from suppliers was still sufficient. Downstream textile, electrical, and modification enterprises mainly maintain production as their main source of goods, with pre holiday stocking centered around weak and rigid demand, and weak support for spot goods on the demand side. On the upstream side, the price of hexamethylene diamine has been consolidating and running, but the news of international major factories raising prices in the future has been implemented, boosting market confidence. The market price of adipic acid has risen with the rise of upstream pure benzene, providing stronger support for PA66. Overall, the support from the cost side for the PA66 market is relatively strong. At present, the market supply and demand are weak, and the price of PA66 is mainly guided by the cost side.

The spot price of PA66 rose over the weekend after a sideways trend this week. The prices of raw materials have both increased, providing stronger support for the cost of PA66. PA66 enterprise has a low level of horizontal load, and the inventory position is still acceptable. The demand side still focuses on maintaining production and has poor feedback on high priced sources of goods. It is expected that the weak supply-demand pattern before the holiday will be difficult to change, and the main positive news for PA66 in the future will still come from the cost side, which may continue to be strong.


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