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SunSirs: Affected by Demand, the Domestic PA Market Had Slightly Declined
March 07 2024 11:00:53SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, the domestic market price of PA produced with OX method slightly decreased this week. As of the 6th, the quoted price of PA produced with OX method was 7,587.5 RMB/ton, a decrease of 1.30% from the price of 7,687.5 RMB/ton on February 28th, and a year-on-year decrease of 10.47%.

Supply side: Stable operation of the device and sufficient supply of goods

The domestic PA plant was operating steadily, Anhui Tongling PA produced with OX method began normal shipment, Xinyang Group's 100,000 ton PA unit operated stably, and Shandong Hongxin PA unit operated normally. Recently, the domestic PA operating rate was around 60%, and the spot supply of PA was very sufficient. The sales situation of PA manufacturers was not good, and the supply of naphthalene PA had slightly declined. As a result, the price trend of PA produced with OX method had declined.

Cost side: The price of OX was stable, and cost support was still acceptable

Recently, the domestic price trend of OX had remained stable. As of the 6th, the price of OX was 8,100 RMB/ton, which was consistent with the price of 8,100 RMB/ton on the 28th. The supply of OX was normal, and the operation of on-site facilities was stable. In the short term, the trend of crude oil prices was declining, and the price of mixed xylene was stable. The temporary stability of OX prices provided certain cost support to the PA market, and the price decline of the PA market was limited.

On the demand side: the DOP market procurement was on demand, the market was declining

This week, the downstream DOP market price trend had declined, with a price of 11,630 RMB/ton as of the 6th, a 1.18% decrease from the price of 11,800 RMB/ton on the 28th. Domestic DOP enterprises were operating normally, and domestic DOP supply was normal. However, plasticizer enterprises were still operating at a loss, and downstream demand was average. The mainstream DOP price was 11,600-11,700 RMB/ton. The downstream DOP price trend had declined, and the purchase of PA was not good. The domestic PA market price trend had declined.

Market outlook

Recently, the trend of crude oil prices had slightly declined, while the price of OX has remained stable. The downstream DOP market has declined, and PA manufacturers had reported serious losses. It is expected that the market price of PA produced with OX method will mainly fluctuate at a low level in the future.

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