In February 2025, due to cost factors, the average price of nylon filament increased slightly. In the first half of the month, the price of upstream raw material caprolactam was significantly affected by international crude oil fluctuations, and the cost pressure of caprolactam will continue to be transmitted to nylon yarn, supporting its price increase; In the second half of the month, it followed the weak decline of raw materials. Returning from the Spring Festival holiday, the overall inventory in the market is at a normal level, with insufficient new orders from downstream factories and low enthusiasm for raw material procurement. The market has a strong wait-and-see atmosphere, with limited actual transactions in the market and weak support from the demand side. In the future, it is necessary to closely monitor the trend of the cost side and changes in downstream market demand.
According to the Commodity Market Analysis System of Shengyi Society, the monthly average price of nylon filament will increase narrowly in February 2025. As of February 28, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 16680 yuan/ton, an increase of 120 yuan/ton from the beginning of the month, with a monthly increase of 0.72%; Nylon POY (premium product; 86D/24F) is priced at 14300 yuan/ton, an increase of 125 yuan/ton from the beginning of the month, with a monthly increase of 0.88%; The price of nylon FDY (premium product: 40D/12F) is reported at 17300 yuan/ton, an increase of 75 yuan/ton from the beginning of the month, with a monthly increase of 0.44%.
The price of raw material caprolactam has risen
In terms of cost, the support on the cost side is strong. In February 2025, the trend of raw material caprolactam first rose and then fell, and the overall price increased. As of February 28, 2025, the benchmark price of caprolactam in Shengyi Society was 11220 yuan/ton, with a monthly increase of 2.72%.
Supply and demand: In February 2025, coinciding with the return of the Spring Festival holiday, nylon filament manufacturers are gradually resuming production and work, and the industry’s operating rate is gradually increasing. The on-site supply has slightly increased, and the performance of the supply side is still acceptable; The nylon filament market is operating at around 7.8% capacity. The downstream market has also basically resumed work and production. In addition, most manufacturers had already stocked up before the year, and in February, the basic consumption of raw material inventory was the main factor. The enthusiasm for raw material procurement was not high, and the actual transactions on site were limited, resulting in insufficient support from the demand side.
Future forecast
Cost aspect: In terms of caprolactam, the upstream pure benzene price fell at the end of the month, and there was little fluctuation in the on-site caprolactam equipment. The demand side mostly maintained on-demand procurement, and the short-term caprolactam market price mainly fluctuated at a high level.
Supply and demand side: Most nylon filament manufacturers have resumed normal production, and the on-site supply will increase significantly. At the same time, the overall inventory level in the market may increase; Downstream manufacturers have resumed work, and each enterprise has a certain amount of raw material inventory. In addition, due to insufficient confidence in the future market, the demand for replenishment is limited. However, with the arrival of the traditional textile peak season in March, the demand side will increase. It is expected that the short-term nylon filament market will be mainly driven by strong demand.
Overall, the spot market for raw material caprolactam and nylon PA6 chips are mainly operating strongly, with decent cost support. The traditional peak demand season combined with high costs may result in a stable to strong trend in nylon filament prices. Business analysts predict that the short-term nylon filament market will mainly experience slight fluctuations and consolidation.
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