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SunSirs: Market Gamed, PA6 Market Fluctuated to Be Weaker

May 17 2023 10:48:31     SunSirs (John)

Price trend

Last week, there was a decline in the domestic PA6 market, and spot prices were generally reduced. According to data monitoring from SunSirs, as of May 16th, the average factory price of PA6 in China was 13,950 RMB/ton, a decrease of 0.18% 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 figure above that the market price of CPL fell slightly last week. The price of raw material pure benzene was lowered, resulting in insufficient cost support. By the 16th, the supply of CPL market was relatively stable, and the supply and demand were relatively balanced. Downstream demand performance was insufficient, and procurement was more cautious, mainly maintaining a wait-and-see attitude.

On the supply side:

Recently, the overall load of domestic PA6 production enterprises remained relatively stable, fluctuating in a narrow range of around 70%. The market supply was stable, there was an increase in inventory, and the supplier's support for spot goods was average. The factory pricing was narrowly loosened.

In terms of demand:

Downstream, the weaving and spinning industries had an average load. The actual trading was generally concentrated in low-end spot goods. The overall atmosphere of stock preparation on the site was cautious, with buyers resisting high priced sources, and the overall demand for PA6 chips was general.

Market outlook

In mid May, the PA6 market experienced a slight decline. The load of domestic polymerization plants was stable, and the supply remained sufficient. In terms of demand, it was average, and stocking tended towards low-priced sources. The price of CPL fell back, and the support form cost side was narrowly weakened. Long short gamed in the market. It is expected that the PA6 market may be dominated by weak consolidation in the short term.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

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