SunSirs: Weak Demand, China PA66 Continues to be Weak

Recently, the domestic PA66 market has been operating weakly. According to data monitoring from SunSirs, on December 22, the domestic PA66 mixed benchmark price was 20,533.33 RMB/ton, with a price increase or decrease of -3.75% compared to the beginning of the month.

Recently, the weakness of PA66 has continued, and spot prices have been weak and consolidating. Overall, the recent market situation has seen a decrease in spot prices for various brands, with low production line operating rates and a stable industry load of around 63%. The supply of goods on site has tightened, and the inventory position is average. Enterprises are cautious in pricing operations, and the support from suppliers is still acceptable. Downstream textile, electrical, and modification enterprises mainly maintain production as their main source of goods, with on-site stocking centered around weak and rigid demand, and weak support for spot goods on the demand side. 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 pattern of stagflation and downward pressure on 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.

The spot price of PA66 is weak this week. The fluctuation of raw material prices has provided moderate support for the cost of PA66. PA66 enterprise has a low level of horizontal load and average inventory position. 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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