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SunSirs: Stable Cost Support, China PA66 Market Remains Strong before the Spring Festival
February 08 2024 10:47:25SunSirs(Selena)

Recently, the domestic PA66 market has remained strong at a high level. According to data monitoring from SunSirs, on February 7th, the domestic benchmark price of PA66 mixture was 20,833.33 RMB/ton, which is the same as the price level at the beginning of the month.

In recent days, the market has taken on the weak pattern of supply and demand in the early stage, with PA66 spot prices mainly showing a strong horizontal trend. The production line operating rate has been adjusted to a low level, and the overall industry load is below 61%. The willingness of enterprises to support the market through pricing operations is clear, and the support from suppliers is still acceptable. The market supply of goods is tight, and the inventory position is not high. Downstream enterprises are experiencing an increase in holiday delisting, while textile, electrical and modification enterprises are maintaining weak and rigid demand for goods, and the pre holiday stocking demand has been almost released. Entering the Spring Festival cycle, the demand side has become increasingly quiet, and the impact on spot prices has decreased. On the upstream side, the price of hexamethylene diamine is running strong, and news of international large factories raising prices has come to fruition. Market confidence has strengthened, and the price has since stabilized. The market price of adipic acid is rising with the rise of upstream pure benzene, and the current high level is sideways, providing sufficient support for PA66. Overall, the support for the PA66 market on the cost side remains strong, and the price of PA66 is mainly guided by the cost side.

Recently, the spot price of PA66 has remained strong. The prices of raw materials have both strengthened, maintaining strong support for the cost of PA66. PA66 enterprise has a low level of horizontal load, and the inventory position is still acceptable. Terminal enterprises are basically on vacation, and the demand side is getting less goods. Before the holiday, the market atmosphere gradually quieted down and trading decreased. It is expected that PA66 will continue to operate with strong support from the cost side.


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