SunSirs: Weak Materials Demand, China PA66 Market was in Continuously Falling in June
July 04 2023 11:24:49 SunSirs (Selena)
The domestic PA66 market has shown a negative trend this month. According to data monitoring from SunSirs, the benchmark price of domestic PA66 was 19,666.67 RMB/ton on June 30th, with a decrease of -5.75% compared to the price level at the beginning of the month.
Last month, the PA66 market continued its previous weak trend, and overall, spot prices of various brands have declined. In terms of supply, the overall load of the domestic PA66 industry remained at around 60% in June, a narrow decrease compared to the previous period. The coexistence of enterprise construction and maintenance shows a trend of rotating negative reduction, but the on-site supply is relatively sufficient, so the supply contraction is not significant in supporting the spot goods. Poor inventory digestion has affected corporate confidence, and pricing operations are cautious. In terms of upstream, the domestic Adipic acid market continued to decline, and the low start and low demand continued to play a game, increasing the decline. The raw material side of PA66 has poor support for spot goods. In terms of demand, the situation is stable with some weaknesses, and terminal enterprises mainly rely on goods to maintain production. Buyers generally have limited acceptance of high priced sources of goods. It is expected that PA66 may continue its weak consolidation in the short term.
The spot price of PA66 in June stabilized first and then fell. The weakening of the raw material market has led to poor support for the cost side of PA66. The load of PA66 enterprise is maintained, and the supply support is not obvious. The demand side takes goods to maintain production, and it is expected that PA66 may maintain a weak consolidation market in the short term.
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