SunSirs: The Shortage of Raw Materials boosted China PA66 Market to Rise

According to SunSirs, the domestic PA66 market continued to rise this week, with spot prices of various brands rising. As of September 15, the ex factory price of the glue injection molding sample enterprises in the business agency PA66 was about 24,000 yuan/ton on average, up and down by +7.87% compared with the average price at the beginning of the month.

Industrial chain: In terms of upstream, adipic acid in China stopped falling and rose this week, with slightly improved cost and general demand. The shipment of domestic adiponitrile was carried out step by step. It is said that Qixiang Tengda's accident did not cause serious consequences to the adiponitrile production line before. Recently, the supply of hexamethylene diamine continued to be tense, and merchants were reluctant to sell. The market is improving, and enterprises and merchants have raised their offers.

The upstream raw material market is generally stronger, and the cost end support of PA66 is concentrated on the hexamethylene diamine product. In terms of industry operating rate, due to the independent reduction of PA66 enterprises in the early stage, the current domestic PA66 industry load is not high, the market spot supply shrinks, and the spot market supply pressure is small. In terms of the port, the inventory position is acceptable, and the arrival of overseas goods is average. In terms of demand, the current terminal enterprises tend to maintain production just because they need to follow up on the delivery of goods, and their acceptance of high priced goods is general. At present, it is in the traditional peak demand season, and the demand release of downstream factories is not significant. The confidence of merchants was enhanced, and the shipment continued to rise. The deal on the floor was average, and the supply of low price goods decreased.

SunSirs analysts believe that the spot price of PA66 will continue to rise this week. The raw material side market rose mainly, and the cost side support of PA66 was mainly focused on hexamethylene diamine. The load of PA66 enterprises is low, the supply side is fair, and the demand side is mainly just in need of goods. It is estimated that PA66 will continue to be boosted by the cost side in China in the short term.

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