Price trend
The domestic PA66 market showed a negative trend in July. According to data monitoring from Business Society, the benchmark price of domestic PA66 was 18200 yuan/ton on August 1st, a decrease of -7.46% compared to the price level at the beginning of July.
Cause analysis
In July, the market trend of PA66 continued to be weak, and overall, spot prices of various brands continued to decline. In terms of supply, the overall load of the domestic PA66 industry is currently maintained at around 60%, with a narrow increase within the month. Some production lines of enterprises are only resuming work, and the on-site supply of goods is still relatively sufficient, so the supply side’s support for spot goods is average. Poor digestion in terms of inventory, negative corporate confidence, and cautious pricing operations. Upstream, the domestic market of Hexamethylenediamine is weak. The Adipic acid market rose moderately. The rise of crude oil in July drove both pure benzene and Cyclohexanone, the raw materials of Adipic acid, to strengthen. However, due to the price fluctuation in the early stage, Adipic acid has no obvious advantage on the spot of PA66. PA66 raw material side has poor support for spot goods, and the demand situation is weak and stable. Terminal enterprises mainly rely on goods to maintain production, and buyers generally resist high priced sources of goods. It is expected that PA66 may continue its weak consolidation in the short term.
Future Market Forecast
The spot price of PA66 in July was negative. The price trend of the raw material side is acceptable, but the support for the cost side of PA66 is average. The load of PA66 enterprise is maintained, and there is no significant improvement in supply support. The demand side takes goods to maintain production, and it is expected that PA66 may maintain a weak and vulnerable market in the short term.
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