SunSirs: Supply Actively Shrunk, PA66 Price Market Stabilized
May 30 2023 11:06:33 SunSirs (John)
Price trend
This week, the domestic PA66 market showed significant stability and slight fluctuations. According to data monitoring from SunSirs, the average factory price of PA66 in China on May 26th was 20,866.67 RMB/ton, a 2.62% increase compared to the price level at the beginning of the month.
Analysis review
After the PA66 market recovered this week, it stabilized, and overall, spot prices of various brands rose narrowly. In terms of supply, the overall load of the domestic PA66 industry was around 66%, which had decreased compared to the previous period. Some enterprises lowered their load, and supply contraction had formed a certain support for the spot market. Inventory had also been partially digested, market supply had decreased compared to the previous period, supply side support had rebounded, and enterprise pricing operations were narrowly repaired. On the upstream side, the raw material hexamethylene diamine remained stable, while on the other hand, the price of adipic acid continued to decline due to a lack of positive market guidance. The raw material side of PA66 had poor support for spot goods. The demand situation was stable, and terminal enterprises followed up and purchased on demand. Buyers generally had limited acceptance of high priced goods. It is expected that PA66 may continue to consolidate its market in the short term.
Market outlook
This week, the spot price of PA66 stabilized after repairing. The raw material market was weak, and the cost support for PA66 was average. The load of PA66 enterprise had decreased, supply had tightened, and the overall inventory position was average. The demand side purchased goods to maintain production, and it is expected that in the short term, PA66 may be sorted stronger supported by suppliers.
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