SunSirs: Weak Demand, China PA66 Market is Weak

Recently, the domestic PA66 market has been operating weakly. According to data monitoring from SunSirs, the domestic benchmark price of PA66 mixture was 20,700 RMB/ton on December 18th, with a price increase or decrease of -2.97% compared to the beginning of the month.

In mid December, the weakness of PA66 continued, and spot prices remained weak and consolidated. Overall, the recent market situation has seen a slight decrease in spot prices for various brands, a narrow decrease in production line operating rates, and an overall stable industry load of around 63%. The on-site supply of goods is moderate, the inventory position is average, the pricing operation of enterprises is cautious, and the support from suppliers is average. Terminal enterprises still rely on maintaining production as their main source of goods, with on-site stocking centered around essential needs, and weak support from the demand side for spot goods. On the upstream side, the tight supply of domestic hexamethylene diamine has eased, and there are still expectations of supply relaxation on the market, leading to a general stagflation adjustment in prices. Early bearish guidance in the adipic acid market, followed by consolidation after a price drop. At present, the market is mainly volatile, and the support from the cost side for the PA66 market is average. At present, the market supply and demand are not strong, and the overall price of PA66 is weak and stable.

In mid December, the spot price of PA66 showed a weak consolidation. The fluctuation of raw material prices has provided moderate support for the cost of PA66. PA66 enterprise has a stable and stable load, with average inventory positions. The demand side still relies mainly on maintaining production, and it is expected that PA66 may continue to operate weakly in the short term.

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