SunSirs: Fundamentals Weakened, and PA6 Market Declined
March 21 2023 14:01:06 SunSirs (John)
Price trend
The recent domestic PA6 market trend was weaker, with spot prices falling. According to data monitoring by SunSirs, as of March 17, the average factory price of PA6 in China was 13,900 RMB/ton, a decrease of 1.65% compared to the average price level at the beginning of the month.
Analysis review
In terms of raw materials: It can be seen from the above figure that the market price of CPL was stable this week. The price of raw material pure benzene fell, and cost support weakened. In addition, the load of CPL units increased, and the market supply increased. The downstream procurement was just in needed, and operation was mainly cautious. It is expected that CPL may weaken in the short term, weakening its support for PA6.
On the supply side: This week, the overall load of domestic PA6 production enterprises was around 72%, with an overall narrow increase. The market supply was stable, the inventory position was rising, the supplier's support for spot goods was general, and the factory price was reduced.
Demand: On the downstream side, the overall load of the weaving and spinning industries had increased in a narrow range, but the consumption of raw materials was poor, replenishment demand was weak, on-site trading was weak, and the overall demand for PA6 chips was poor.
Market outlook
The PA6 market fell this week. The load of domestic polymerization plants was stable and increased, and the supply maintained an adequate level. The demand side tended to be rigid. CPL weakened, and PA6 cost side support was general. Market sentiment was dominated by wait-and-see, and real order trading volume was shrinking. It is expected that the PA6 market will continue to be weak and consolidated in the short term
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- 2024-04-11 SunSirs: Fundamental Weakness is Difficult to Improve, China PA6 Fluctuated and Consolidated in early April
- 2024-04-01 SunSirs: Costs Continue to Weaken, China PA6 Market Follows the Downward Trend
- 2024-03-29 SunSirs: Cost Support Weakened, China PA6 Market Fluctuated and Fell in March
- 2024-03-26 SunSirs: Raw Materials Weakens, China PA6 Market is Weak
- 2024-03-18 SunSirs: Demand Side Cautious& Loose Supply of Raw Materials, China PA6 Continues to Weaken narrowly
