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SunSirs: China PA6 Market Tends is to be Sideways
February 08 2024 10:20:13SunSirs(Selena)

Recently, the domestic PA6 market has been relatively strong, with most spot prices remaining stable. According to data monitoring from SunSirs, as of February 7th, the domestic benchmark price of PA6 mixture was 14,775 RMB/ton, which is consistent with the average price level at the beginning of the month.

Recently, the market price of caprolactam has continued to rise. Affected by the rising price of raw material pure benzene, the cost support of caprolactam has strengthened. Overlapping with the reduced load operation of some enterprise devices, the market supply has decreased, and the price of caprolactam has steadily increased, increasing the support for the cost side of PA6.

In terms of supply: Recently, the load of PA6 production enterprises has remained stable and slightly increased, with the average operating rate rising narrowly from 79% at the beginning of the month to about 81%. The market supply has remained relatively stable compared to the previous period, and the on-site supply of goods is relatively 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: In the downstream sector, the main downstream industries are gradually on vacation, and the load has significantly decreased. In terms of spinning, the operating rate has been reduced by 11% to around 67%. The weaving load decreased by 32% to 23%. The pre holiday stocking demand of terminal enterprises has been basically completed, and the current market trading is concentrated on forward contracts. Reduced impact on PA6 demand side.

Recently, the PA6 market has shown a strong consolidation trend. The price of caprolactam has strengthened, and there is still support for the cost side of PA6. The load of domestic polymerization plants remains stable with small fluctuations, and the inventory position remains low. Terminal enterprises are basically on vacation and delisted. Overall, the post holiday PA6 market may continue to operate strongly due to cost side benefits.


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