Last week (December 27, 2024- January 5, 2025), the center of gravity of the nylon filament market fell. The market trend on the raw material side is not good, the support on the cost side is declining, the supply on site is relatively abundant, and downstream manufacturers have low purchasing enthusiasm. Multiple parties hold sporadic demand orders, and under the interweaving of news on the market, the price of nylon filament has fallen sharply.
According to the Commodity Market Analysis System of Shengyi Society, the market price of nylon filament slightly decreased last week (December 27, 2024- January 5, 2025). As of January 5, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 16660 yuan/ton, a decrease of 420 yuan/ton from last week, a weekly decrease of 2.46%; Nylon POY (premium product; 86D/24F) is priced at 14350 yuan/ton, a decrease of 300 yuan/ton from last week, with a weekly decline of 2.05%. The price of nylon FDY (premium product: 40D/12F) is reported at 17500 yuan/ton, a decrease of 425 yuan/ton from last week, with a weekly decline of 2.37%.
Raw materials continue to decline
In terms of cost: Last week (December 27, 2024- January 5, 2025), Sinopec lowered the weekly settlement price of high-end caprolactam by 380 yuan/ton to 10930 yuan/ton. As of January 5, 2025, the benchmark price of caprolactam in Shengyi Society was 10776 yuan/ton, with a weekly decline of 1.16%. The market price of PA6 high-speed spun slices has slightly decreased, and the raw material market price has weakened and declined during the week, with a weekly decline of 0.67%, indicating a lack of cost support.
On the supply side: Currently, the nylon filament market is operating at around 8.4% capacity, with little fluctuation in the operating rate of market facilities. On site inventory remains at a normal level, and the positive support from the supply side is limited.
Downstream demand: Terminal market demand remains weak, with insufficient new orders in the downstream market. Most factories are in the year-end closing stage, with limited replenishment plans and no improvement in demand.
Future forecast
The cost support of upstream raw materials may be strengthened to some extent, and the supply of caprolactam market may increase to some extent. The demand side will follow up with replenishment as needed, and the caprolactam market segment will be sorted out in the later stage; In terms of PA6 slicing, the caprolactam market is expected to maintain stable prices, and downstream manufacturers still have a cautious attitude towards purchasing. The PA6 slicing market will remain stable with small fluctuations in the later stage. There is currently no clear plan to reduce production in the nylon filament market, and the on-site supply may remain high, with the possibility of an increase in inventory levels; The Spring Festival holiday is approaching, and the demand in the terminal market is weak. The possibility of downstream market stocking is not high, and some downstream manufacturers may gradually reduce production and holiday, which may lead to a decrease in demand. Overall, the spot market for raw material caprolactam and the PA6 chip market may experience consolidation and operation, with relatively stable cost side support. Downstream manufacturers have a certain degree of risk aversion, with less inventory and difficult demand side support. Business analysts predict that the nylon filament market will mainly experience weak consolidation and operation in the later stage, with little price change.
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