Price trend
Recently, the domestic PA6 market has been experiencing weak fluctuations, and spot prices have been generally lowered. According to data monitoring from Business News Agency, as of October 20th, the mixed benchmark price of PA6 in China was 14300 yuan/ton, a decrease of -3.54% from the average price level at the beginning of the month.
Cause analysis
In terms of raw materials:
From the above figure, it can be seen that the market price of caprolactam has been fluctuating and stabilizing recently. The raw material pure benzene has seen a decline in the market this week, with loose cost support. At the same time, new caprolactam units have been put into production and laid out, and many production lines have resumed work recently, resulting in an increase in supply. Downstream demand is average, resulting in a bearish trend for caprolactam. Overall, there is insufficient support for the cost side of PA6.
On the supply side:
In mid October, the load of PA6 production enterprises was generally sideways, with an average operating rate of around 73% in China. The market supply is relatively flat compared to the previous period, with an increase in on-site supply, but inventory levels are still low, and there is still support from suppliers for spot goods.
In terms of demand: Downstream, the load of the weaving and spinning industries has fluctuated slightly and remained stable, with an average load position of around 66% and 81%, respectively. The current willingness of terminal enterprises to stock up is not high, and their acceptance of high priced goods is not good, which has affected the circulation speed of some goods. Market trading is concentrated on low prices, and overall support for the demand side of PA6 chips is weakening.
Future Market Forecast
Recently, the PA6 market has declined. The price of caprolactam is weak and stable, and the overall cost support for PA6 is weak. The domestic polymerization plant has stable load and abundant supply. The demand side is cautious in picking up goods, and market trading tends towards the low end. It is expected that the PA6 market may continue to be weak in the short term.
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