SunSirs: Fundamentally Weak, China PA66 operates with Low Volatility

At the beginning of August, the domestic PA66 market trend was biased towards consolidation. According to data monitoring from SunSirs, the mixed benchmark price of PA66 in China was 18,333.33 RMB/ton on August 7th, with a +0.73% increase or decrease compared to the price level at the beginning of the month.

Recently, the market trend of PA66 has continued to be weak, and overall, the spot prices of various brands have been low. In terms of supply, the overall load of the domestic PA66 industry is currently maintained at around 60%, and it operated horizontally last week compared to the previous period. The production line situation of the enterprise remains at the end of last month, and the on-site supply is still relatively sufficient, so the supply side's support for spot goods is average. Poor digestion in terms of inventory, negative corporate confidence, and cautious pricing operations. On the upstream side, the domestic market for hexamethylene diamine has weakened due to the impact of price adjustments by major international manufacturers in the early stage. In terms of adipic acid market, the trend was sideways after rising, with raw materials such as pure benzene and cyclohexanone showing a strong trend. The cost side is flat and falling, and the current positive effect of adipic acid on PA66 spot is not significant. PA66 raw material side has poor support for spot goods, and the demand situation is weak and stable. Terminal enterprises mainly rely on goods to maintain production, and buyers generally resist high priced sources of goods. It is expected that PA66 may continue its weak consolidation in the short term.

Recently, the spot price of PA66 has been sorted and operated. The price trend of raw materials has started to weaken, with general support for the cost side of PA66. The load of PA66 enterprise is maintained, and there is no significant improvement in supply support. The demand side takes goods to maintain production, and it is expected that PA66 may maintain a weak and vulnerable market in the short term.

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