Price trend
Recently, the domestic PA6 market has been strong and volatile, with spot prices rising more than falling. According to data monitoring by Business Society, as of May 14th, the domestic benchmark price of PA6 mixture was 14700 yuan/ton, with a price increase or decrease of 0.51% compared to May 1st.
Cause analysis
In terms of raw materials:
From the above chart, it can be seen that the market price of caprolactam has recently increased. The price of raw material pure benzene has increased, leading to increased cost support. Although some enterprises have resumed work on their installations, the market supply has increased. However, the downstream operating rate has increased, and the demand for caprolactam is improving. The overall market trend of the industrial chain is moving upwards, and the support for PA6 is still sufficient.
In terms of supply: Recently, the load of PA6 production enterprises has fluctuated narrowly, with an average operating rate of around 84% and stable production. The inventory position of the enterprise has decreased, and the on-site supply of goods has decreased compared to the previous period. The supplier’s overall efforts to boost PA6 spot prices have increased.
In terms of demand: downstream, the main downstream industries have seen a rebound in production after the holiday. The operating rate of spinning has dropped to 85%, while the weaving load has risen narrowly to around 71%. Recently, there has been a strong demand for downstream purchases, leading to an increase in stocking orders for some brands. The demand side of PA6 has increased its support for spot goods.
Future Market Forecast
The PA6 market has been experiencing strong fluctuations recently. Caprolactam prices have stopped falling and rebounded, increasing support for the cost side of PA6. The domestic polymerization plant has a large and stable load with small fluctuations, and the demand for stocking by end enterprises is relatively strong. Overall, the current market momentum is heating up, and trading orders are generally inclined towards pre-sales, which may overdraw some future consumption. It is expected that the PA6 market will remain stable with minor fluctuations in the short term.
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