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SunSirs: Cost Support Weakened, China PA6 Market Fluctuated and Fell in March
March 29 2024 14:45:48SunSirs(Selena)

In March, the domestic PA6 market continued to decline, with most spot prices dropping. According to data monitoring from SunSirs, as of March 27th, the domestic benchmark price of PA6 mixture was 14,775 RMB/ton, with a price increase or decrease of -2.64% compared to the beginning of the month.

The market price of caprolactam has gradually declined this month. The price of raw material pure benzene first rose and then fell, and the impact of cost support weakened. In terms of supply, enterprises started at a high level within the month, and inventory levels continued to rise. The caprolactam market has sufficient supply, limited downstream demand, and weak market trading. The cost support of caprolactam for PA6 has weakened.

In terms of supply: In March, the load of PA6 production enterprises remained generally stable, with an average operating rate of around 83%. The market supply remained stable and there was ample supply of goods within the month. The inventory level has flattened horizontally, and although the supply pressure has not increased significantly, the overall support for PA6 spot is average.

In terms of demand: Downstream, there has been an improvement in the operating conditions of the main downstream industries in March. The operating rate of spinning has increased to around 84%, while the weaving load is around 72%, showing a significant improvement overall compared to the beginning of the month. However, due to the gradual decline in the price of PA6 within the month, downstream enterprises have a poor willingness to stock up and a wait-and-see attitude towards the decline. Be cautious in trading on the exchange. Limited support for PA6 demand side.

The PA6 market continued to decline in March. The price of caprolactam has been weakening, weakening its support for the cost side of PA6. Domestic polymerization plants have a large and stable load, while terminal enterprises need to stock up and purchase with caution. There is currently a lack of bullish news on the market, and it is expected that the PA6 market may continue to operate weakly in the short term.


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