As of May 10, the SunSirs benchmark price for PA66 stood at 23,000 RMB/ton—a decrease of 2.13% compared to the beginning of the month (23,500 RMB/ton). The current price remains within the upper-to-mid range of its one-year statistical cycle. The downward trend observed since late April has slowed significantly this week, exhibiting characteristics of relative stability amidst the decline.

Cost Side: In April, the adipic acid market experienced a sharp downturn, with price drops reaching approximately 2,000 RMB/ton at one point. However, the market has recently shifted to a pattern of narrow, volatile weakness; price fluctuations (both up and down) are expected to remain limited in May. Adipic acid production facilities are operating stably, and overall spot supply in the market remains ample. Consequently, the cost support provided to PA66 is relatively moderate; moreover, the marginal weakening of raw material costs has partially undermined the cost-driven bullish logic that previously propelled prices upward.

Supply Side: Regarding supply, the spot availability of PA66 has undergone minor adjustments recently. Some polymerization enterprises are facing cost pressures and continue to demonstrate intentions to hold prices firm or reduce production output.

Demand Side: Downstream sectors are maintaining a "buy-on-demand" purchasing rhythm, resulting in a generally lackluster trading atmosphere. End-users exhibit a distinct resistance to high-priced supplies; they remain cautious in following up on high-priced orders, limiting their purchasing solely to essential replenishment needs.

In summary, short-term PA66 prices are expected to fluctuate slightly around their current high levels. Key factors to watch include changes in raw material prices and the pace of recovery in downstream demand. Should raw material prices retreat or demand remain persistently weak, PA66 prices may experience a minor correction. Conversely, if raw material prices remain elevated or demand sees an unexpected resurgence, prices may edge upward slightly. Overall, the amplitude of these fluctuations is expected to remain limited, and the current market stalemate is unlikely to be decisively broken in the near term.

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