SunSirs: Fundamentally Balanced, High Sideways Trend in China PA66 in April

The domestic PA66 market remained strong at a high level in April. According to data monitoring from SunSirs, the domestic benchmark price of PA66 mixture was 22,900.00 RMB/ton on April 30th, which remained unchanged from the beginning of the month.

In early April, crude oil gradually rose, which was beneficial for the market of adipic acid raw materials. At the same time, the operating rate of domestic adipic acid plants is relatively low, and large factories have raised their listing prices narrowly. The supply price of the external market has stabilized, and the domestic supply has increased. The tight supply situation on site has improved. At the same time, there are relatively few new orders downstream, and the market atmosphere is cautious. At the end of the month, the settlement prices introduced by major factories have not changed much compared to the previous month. Hexanediamine is also operating at a high level with strong support from overseas large factories in terms of high priced supply; Overall, the support of costs for the PA66 market remains strong.

On the supply side, the operating rate of domestic PA66 production lines remained stable in April. The overall industry load is around 66%. The production of the enterprise is stable, and there is no obvious accumulation of inventory. The supplier's price adjustment operation is clear, and the support is still sufficient.

In terms of demand: Within the month, textile, electrical and modification enterprises will prepare and consume goods in a systematic manner, while most of the procurement operations will maintain production as the main focus. The main force of on-site trading is supported by the follow-up of demand, and the buyer camp has slight resistance to high priced goods. The stocking volume before the end of the month is not significant, and the trading firm's offer is stable. The demand side has average support for PA66.

The spot price of PA66 remained stagnant at a high level in April. The raw material market still supports the cost side of PA66. PA66 enterprise has a low load and stable supply. The demand follow-up of terminal enterprises is average. It is expected that the PA66 market will continue to operate steadily after the holiday.

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