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SunSirs: Cost Support, China PA66 Remains Strong at a High Level
March 12 2024 14:15:23SunSirs(Selena)

In early March, the domestic PA66 market remained strong at a high level. According to data monitoring from SunSirs, the domestic PA66 mixed benchmark price was 22,733.33 RMB/ton on March 11th, with a price increase or decrease of +0.29% compared to the beginning of the month.

On the cost side:

Adipic acid: In the early stage, the price of adipic acid rose due to the dual boost of raw materials and external market adjustments, but has recently shown a narrow decline in performance. The price performance of raw material pure benzene is sluggish, and the cost support is weakened. The supply pressure is average, and most manufacturers are in the process of reducing inventory. Downstream stocking is carried out step by step, and supply and demand tend to remain stable.

Hexanediamine: In early March, the market for hexanediamine continued to be affected by the previous news of international large factories raising prices, resulting in high prices. The positive effects of the price increase letter have not been fully exhausted, coupled with limited improvement in the tight market supply pattern, it is expected to maintain a high point in the short term; Overall, the support of cost two materials for the PA66 market is still acceptable.

In terms of supply:

In early March, the operating rate of domestic PA66 production lines remained low and adjusted. Recently, the overall industry load has increased narrowly compared to the previous period, with an average of over 62%. At present, the production of enterprises is at a low and stable level, and there is no accumulation of inventory. Low end sources of goods have decreased, and the price adjustment operation is clear. The market circulation of goods is tight, and the support from suppliers is relatively strong.

In terms of demand:

Since March, with the gradual resumption of work by downstream enterprises, textile, electrical and modification enterprises have not significantly increased their stocking consumption with the resumption of work. Most of the pick-up operations are followed up on demand. On exchange trading is average, and the buyer camp has slight resistance to high priced goods. Traders have strong confidence in stabilizing prices and are actively engaged in price fixing operations. The demand side has average support for PA66.

In March, new products were launched, and the spot price of PA66 remained stable with an increase. The prices of raw materials continue to be strong, providing strong support for the cost of PA66. The PA66 enterprise has a low level of horizontal load, and the inventory position is also low. Terminal enterprises have started construction one after another, but demand improvement is limited. Overall, the current cost support for PA66 is maintained, with limited changes in other aspects. It is expected that the market will continue to operate steadily in the short term or enter the platform stage.


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