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SunSirs: China's Polyamide is up in Early June
June 10 2020 08:29:44SunSirs(Linda)

According to SunSirs data statistics, as of June 9, Jiangsu area polyamide DTY reported 15,800 yuan/ton, on June 1, it rose 167 yuan/ton, an increase of 1.07%, a year-on-year decrease of 17.85%; polyamide POY price reported 13,480 yuan/ ton, the price increased by 580 yuan/ton, an increase of 4.50%, down 19.47% year-on-year, the price of polyamide FDY was reported at 16,500 yuan/ton, and the price increased by 250 yuan/ton, an increase of 1.54%, down 21.80% year-on-year.

Supported by positive news, crude oil continued to rise. As of June 8, WTI crude oil reported 38.19 US dollars / barrel. At the OPEC+ ministerial meeting in June, OPEC agreed to extend the 9.7 million barrels/day reduction of production by one month, until the end of July, the intensity of production reduction reached a record high. In the week of June 7, the number of oil and gas rigs in the United States decreased again by 17 to 284, a total decrease of 691 compared with the same period last year, which was also the lowest record this year. Demand for crude oil has rebounded significantly. The latest data shows that China’s crude oil imports broke the historical record in May. China’s oil imports in May increased by 15% from April to 47.97 million tons.

The prices of raw materials have been raised to varying degrees. As of June 9, cyclohexanone rose by 40 yuan/ton in June, caprolactam increased by 66 yuan/ton, and the price of PA6 rose by 600 yuan/ton, an increase of 5.18%. Last week, cyclohexanone's construction load was relatively stable. The factory's spot pressure and inventory pressure were not large, but the order acceptance gradually slowed down. In May, under the recovery of raw material prices and tight supply, caprolactam actively raised prices, with a monthly increase of 16.21%. The price increase was highlighted in the early May and late June to early June price fluctuations rose slightly. In the first half of June, PA6 continued to rise. First, the raw material caprolactam was operating at a high price, which strongly supported PA6. Secondly, the increase in overseas plasticized consumer demand was beneficial to domestic enterprises. The export situation of PA6 recovered, and domestic demand for polymer slicing plants has been limited. But the transaction is average.

As can be seen from the PA6- polyamide POY price trend chart, as of the 9th, the price of PA6 continued to rise in June, the trend of polyamide POY and PA6 was similar, and the inflection point was basically the same. Recently, raw materials have dominated the trend of polyamide. Throughout the industry, crude oil has led the younger brothers to pick up. In addition, the tight supply of caprolactam has contributed to the fire of PA6. With cost support, polyamide has entered a rebound period. And with the relaxation of prevention and control of some COVID-19situations abroad and the restart of production, the stimulus of foreign consumption has added fuel to the rising fire, and the upward momentum may continue.

SunSirs analysts believe that crude oil continues to rise, and there is a continuation of the trend. The polyamide raw material market generally maintains a high level, and the willingness to price is strong. Polyamide are also sold at a stable price. Some manufacturers have indicated that they will increase their quotations in the near future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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