Over the past week (April 8–14), the PA66 market trended with an initial gradual pace followed by a rapid acceleration. The first half of the week saw continued high-level volatility, while the second half witnessed a renewed surge to higher ground. According to spot market data from SunSirs, the benchmark price for PA66 climbed from 22,966.67 RMB/ton on April 7 to 25,100 RMB/ton on April 14. Since the beginning of April, the price has risen cumulatively by 20.29%, reaching its highest level in a year.
From a cost perspective, the raw material sector continues to consolidate at elevated levels. Invista has raised its April contract price for hexamethylenediamine to 26,000 RMB/ton—a significant increase compared to the start of the year—directly transmitting cost pressures to PA66. Adipic acid, another core raw material, was driven by earlier increases in oil prices; its cumulative gains in the first quarter exceeded 50%. Although the benchmark price for adipic acid saw a slight decline of 0.63% in mid-April compared to the beginning of the month, it remains at a relatively high historical level overall. Despite a recent easing of geopolitical tensions in the Middle East, the energy-related price premium established earlier has become deeply embedded within the industrial chain, making it difficult for the short-term cost base to shift downward.
Regarding supply and demand dynamics, the supply side has recently seen a reduction in imported goods, resulting in tight spot market circulation. Traders are reluctant to sell, and overall inventory levels—held by both manufacturers and traders—remain low. Recently, some enterprises have reduced their operating loads, providing support for prices. Conversely, demand has been generally weak; the downstream textile industry has shown low tolerance for the high price levels, generally adopting a strategy of "small-batch, rigid-demand purchasing" (buying only as needed). Large-scale orders are scarce, and trading activity lacks vigor, creating a stalemate characterized by "supplier control versus demand suppression."
Looking ahead to the short-term market outlook, the PA66 market is expected to continue its high-level volatility, with limited room for significant, unilateral price increases in the immediate future. A dynamic interplay is emerging between strong cost support and weak demand; consequently, price trends will depend heavily on fluctuations in raw material costs and the pace of recovery in downstream orders. If terminal demand fails to show significant improvement, high prices may stifle operating rates, potentially prolonging a market situation where "prices exist, but transactions do not."
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