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SunSirs: Demand Side Cautious& Loose Supply of Raw Materials, China PA6 Continues to Weaken narrowly
March 18 2024 14:13:54SunSirs(Selena)

Last week, the domestic PA6 market continued to weaken in a narrow range, with most spot prices fluctuating and falling. According to data monitoring from SunSirs, as of March 15th, the domestic benchmark price of PA6 mixture was 14,950 RMB/ton, with a price increase or decrease of -1.48% compared to the beginning of the month.

Recently, the market price of caprolactam has fluctuated and declined. The price of raw material pure benzene has increased, and the cost support has increased, but it has not been able to smooth out the negative pressure on suppliers. At present, the market has sufficient supply and limited downstream demand, leading to a bearish sentiment in the market. Overall, the cost support of caprolactam for PA6 has weakened.

In terms of supply: Recently, the load of PA6 production enterprises has been steadily increasing, with an average operating rate of over 82%. The market supply has remained relatively stable compared to the previous period, and the on-site supply of goods is relatively abundant. The overall inventory level is low, and some enterprises still have pre-sale orders to purchase. The pressure on suppliers is not significant, and there is still support for PA6 spot goods.

In terms of demand: In terms of downstream, the current situation of the main downstream industries is still good. The operating rate of spinning has increased to around 83%, and the weaving load is over 70%. Due to low supply prices in the past few days, the willingness to stock up has been poor recently. However, terminal enterprises still need support for stocking up, and trading on the market tends to be cautious. The demand side support for PA6 is average.

Recently, the PA6 market has experienced a narrow decline. The price of caprolactam has fallen, weakening the cost support for PA6. The load of domestic polymerization plants remains stable with small fluctuations, and the inventory position remains low. Terminal enterprises need to stock up and purchase carefully. The current market is in a dilemma of ups and downs, and it is expected that the PA6 market will enter a volatile consolidation market in the short term.


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