SunSirs: The Demand Was Weak, and the Market of PA66 Was Flat First and Then Down
February 14 2023 09:44:03 SunSirs (John)
Price trend
The domestic PA66 market declined in the first ten days of February. According to the monitoring of the data of SunSirs, the average ex-factory price of domestic PA66 was 21,000 RMB/ton on February 10, with a decline of - 3.45% from the price level at the beginning of the month.
Analysis review
In the first half of February, PA66 fell after a deadlock. In terms of supply, the overall domestic load of PA66 industry was at the same level as that at the beginning of the month, about 66%. The enterprise operation followed the trend of de-stocking in the early stage. The inventory pressure was general, and the supply of goods on the site was relatively abundant.
On the upstream side, in the aspect of raw adipic acid, the recent trend of crude oil fluctuated, and pure benzene fell with upstream. Dragged by the upstream market, the adipic acid quotation weakened.
The situation in demand was weak and difficult to change. After the Spring Festival, terminal enterprises purchased the goods just on demand, and the resumption of work was slightly delayed. Buyers generally had strong resistance to high-priced goods. The smoothness of merchants' delivery was average.
Market outlook
In the first ten days of February, the spot price of PA66 was flat and then fell. The market at the raw material side began to weaken, and the support for the cost side of PA66 was loose. The load of PA66 enterprises stabilized, the factory price was reduced at the weekend, and the overall inventory position was OK. The demand is weak, and PA66 is expected to continue to be weaker in the short term.
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