In March 2026, the overall price of PA6 showed a trend of "rapid rise followed by high volatility", mainly driven by strong cost support and tight supply, and the market was in a stalemate between cost and demand. The benchmark price of SunSirs rose from 10,866.67 RMB/ton at the beginning of the month to 14,033.33 RMB/ton at the end of the month, a monthly increase of 29.14%, and reached a high of 14,500 RMB/ton at the end of the year. The trend is divided into two stages: a rapid increase driven by costs in the first half of the year, followed by a high-level stalemate and narrow range oscillation in the second half.

In terms of cost: The geopolitical conflict in the Middle East this month has pushed up crude oil prices, driving up pure benzene and rapidly transmitting cost pressure. As the core raw material of PA6, the price of Caprolactam (CPL) continues to rise, with a weekly settlement price of 12910 RMB/ton by Sinopec in late March. Although it has slightly decreased compared to the previous period, it is still at a high level. The tight supply and demand in the caprolactam industry, coupled with strong bargaining power, have solidified the bottom of PA6 costs.

On the supply side: This month, the early maintenance equipment of the domestic PA6 industry has gradually resumed, new production capacity has been released, and spot supply has steadily increased, but the overall situation is still relatively tight. The market's low-priced supply has decreased, and traders have shown a clear reluctance to sell, with bargaining power leaning towards suppliers.

On the demand side: The textile and chemical fiber industry has resumed work comprehensively this month, with a rebound in production and entering the post holiday replenishment cycle. However, the acceptance of high prices is low, and small orders are generally adopted for immediate use and procurement without centralized replenishment. Large orders are rare, and there is a strong wait-and-see attitude.

In the short term, it is expected that the PA6 market will experience high-level fluctuations and a slight upward shift in focus. The cost side still has strong support and is difficult to fall significantly in the short term; The slow recovery of demand makes it difficult to drive a unilateral surge or maintain narrow fluctuations. If geopolitical conflicts ease, crude oil and pure benzene fall, or downstream demand continues to shrink, prices may experience a slight correction; But the probability of a significant short-term decline is low.

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