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SunSirs:Raw Material Inventory is Gradually Consumed, Chinese Polyamide DTY Decreases

March 19 2020 10:25:36     SunSirs (Linda)

According to statistics from SunSirs, as of March 18, the polyamide DTY Jiangsu was reported at 15,900RMB/ton, down 666RMB/ton from last week (March.11), a decrease of 2.85%, and a year-on-year decrease of 25.35%; the price of polyamide POY was reported at 13,720RMB/ton, down 280RMB/ton, a decrease of 2.00%, a year-on-year decrease of 25.11%. The price of polyamide FDY was 17,250RMB/ton, a decrease of 583RMB/ton, a decrease of 3.27%, and a year-on-year decrease of 25.81%.

Crude oil prices have fallen sharply and chemical products have been falling. At the macro level, the epidemic has expanded in Europe and the United States, many countries have adopted blockade measures, aviation and transportation have decreased, crude oil demand is expected to decrease, and the global economy has fallen into a state of stagnation. On the other hand, on March 16, Saudi Arabia ’s National Petroleum Corporation (Saudi Aramco) reiterated its plan to increase production to a record level. Saudi Arabia ’s increase in production has further skewed the supply and demand balance, and crude oil bottoming is still ongoing. Correspondingly, Sinopec adjusted the listed price of pure benzene and caprolactam to 600-700RMB/ton, but the delivery was still sluggish. The ex-factory price of cyclohexanone in Shandong area fell by 400 RMB/ton from last week to 6,700-6,900 RMB/ton. Ton, due to inventory pressure, manufacturers have to speed up the price reduction to stimulate transactions.

In early March, crude oil prices fell sharply, and chemical products were miserable. Although the prices of upstream raw materials were reduced, some polyamide companies were still in the state of order production because raw materials were not digested years ago. The plant operating rate was low and supported by high costs. The quote is unchanged. With the reduction of inventory, the impact of raw materials plummeting. This can also be seen from the comparison chart of the price trends of polyamide POY and cyclohexanone. The price of cyclohexanone closer to the crude oil has fluctuated frequently. Recently, the price of polyamide has fluctuated more slowly, but the fluctuation range was larger.

The financial market is in a slump. Judging from the ineffective effects of US financial measures, investors lack confidence. The global epidemic situation has been effectively controlled, and the recovery of production and trade is on the right track. The crude oil market is even worse, with increasing supply pressure on inventory, and it is expected that prices will not rebound significantly. SunSirs analysts believe that the various links in the industry chain are still at a point of price equilibrium, and they are generally lower. It is expected that after the polyamide manufacturers destock, the quotations will fall with the raw materials.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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