Data monitored by SunSirs indicates that the domestic PA66 market price has trended downward over the past week (June 9–16). The market benchmark price fell from 20,866.67 RMB/ton on June 9 to 19,800.00 RMB/ton on June 15, showing a steady decline. Trading activity remained sluggish overall, with transactions primarily driven by small orders to meet immediate needs.
Cost Side: Cost support continues to weaken. Prices for the core raw material, adipic acid, have continued to slide, directly lowering production costs for PA66. Meanwhile, the release of new hexamethylenediamine capacity has ensured ample supply, causing prices to edge downward and further eroding raw material support. With crude oil price levels softening and no significant bullish signals in the upstream energy chain—combined with the fact that PA66 producers retain basic processing margins and face no pressure to cut production due to losses—the cost side offers little effective support for spot prices, resulting in minimal resistance to the downward price trend.
Supply and Demand Side: The market is characterized by ample supply and weak demand. Regarding supply, the industry operating rate remains relatively stable at around 60%, ensuring sufficient market availability; however, producer inventories are gradually accumulating, increasing pressure to move stock, and more traders are offering price concessions to facilitate sales. On the demand side, recovery in downstream sectors has fallen short of expectations, with weak demand in key application areas such as automotive and general engineering plastics. Coupled with the industry's entry into the traditional off-season, downstream factories are limiting purchases to essential restocking, with little appetite for bulk orders; overall market demand remains sluggish, continuing to weigh on PA66 prices.
According to the SunSirs commodity market analysis system, PA66 prices have weakened continuously since June 1. On June 14, the average price spread stood at -113.33 RMB/ton; the spread widened again after narrowing, indicating that the PA66 market decline is persisting and the rate of decline is accelerating. The price has fallen from 20,766.67 RMB/tonne at the beginning of the month to 19,800 RMB/tonne, placing it in the lower-middle range for the year.
In the short term, the PA66 market is expected to continue its trend of weak fluctuation with a slight downward drift; the overall market will remain sluggish and stagnant, with little likelihood of significant price swings. While cost-side support will limit the extent of the decline, supply-demand imbalances cannot be quickly rectified, and the trend of weak downstream demand is unlikely to reverse in the near term. PA66 prices are projected to trade within the 19,500–20,200 RMB/tonne range in the immediate future.
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