SunSirs: Demand Continued to Be Weak, and PA66 Market Declined
March 22 2023 13:14:28 SunSirs (John)
Price trend
Recent domestic PA66 market trends continued to be weak. According to data monitoring by SunSirs, on March 17th, the average ex-factory price of domestic PA66 was 20,500 RMB/ton, with a decrease of 2.38% compared to the price level at the beginning of the month.
Analysis review
This week, the market for PA66 weakened, and spot prices remained stagnant after falling. In terms of supply, the overall monthly load of the domestic PA66 industry was around 65%, unchanged from last week. Enterprise operations continued to be biased towards destocking, inventory pressure was general and on-site supply was relatively abundant. On the upstream side, the raw material hexamethylene diamine fluctuated in a narrow range, while on the adipic acid side, due to the weakness of pure benzene and the increased load before, the market was finishing after the falling under pressure. PA66 raw material side had poor support for spot goods. In terms of demand, the situation was weak and difficult to change. Terminal enterprises purchased goods to maintained the follow-up just in needed. Buyers generally had strong resistance to high-priced sources of goods. It is expected that PA66 may continue its weak consolidation market in the short term.
Market outlook
The spot price of PA66 fell this week. The raw material market was relatively soft, weakening the support for PA66 cost side. The load of PA66 enterprises remained stable, and the overall inventory position was average. Demand side delivery was weak. It is expected that PA66 may continue to be weaker in the short term.
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