Last week (March 17-23, 2025), the upstream raw material caprolactam market continued to fall under pressure, and the nylon PA6 chip market continued to decline. The cost side support was lacking, and downstream demand did not improve, showing a weak performance. Downstream purchases were made on demand, and on-site actual transactions were limited. Many operators held a cautious and wait-and-see attitude, and some nylon filament manufacturers on the demand side offered discounts to sell, causing the nylon fiber market price to continue to decline.
According to the Commodity Market Analysis System of Shengyi Society, the monthly average price of nylon filament continued to decline last week (March 17-23, 2025). As of March 23, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 16080 yuan/ton, a decrease of 320 yuan/ton from last week, a weekly decrease of 1.95%; Nylon POY (premium product; 86D/24F) is priced at 13750 yuan/ton, a decrease of 300 yuan/ton from last week, with a weekly decrease of 2.14%; The price of nylon FDY (premium product: 40D/12F) is reported at 16725 yuan/ton, a decrease of 300 yuan/ton from last week, with a weekly decline of 1.76%.
Raw material caprolactam continues to decline
In terms of cost: Since late February, the price trend of caprolactam in the market has been continuously declining. From mid February to now, the settlement price of Sinopec caprolactam has fallen by 940 yuan/ton, and as of March 23, it has been executed at 10720 yuan/ton, a decrease of 8.77%. The negative impact on the cost side is widespread, and the performance of terminal demand is not as expected, which has led to a sharp increase in shipment pressure to the polymerization factory. The demand side’s follow-up sentiment towards caprolactam has rapidly cooled down. As of March 23, 2025, the benchmark price of caprolactam in Shengyi Society was 10340 yuan/ton, with a weekly decline of 1.90%.
Supply and demand: This week (March 17-23, 2025), downstream market purchasing willingness is not strong, demand has not improved, and the main consumption of raw material inventory is high. There is a strong atmosphere of wait-and-see in the market, with limited actual transactions and insufficient support from the demand side.
Future forecast
Cost wise: The market for caprolactam is bearish, and the production capacity of caprolactam in the market will be released, resulting in an increase in supply. The demand side will maintain on-demand procurement, and the short-term caprolactam market price will be mainly weak.
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 enterprises have a certain amount of raw material inventory, and coupled with insufficient confidence in the future market, the demand for replenishment is limited.
Overall, the spot market for raw material caprolactam and nylon PA6 chips are mainly operating weakly, with a lack of cost support and continued weak demand. There is a strong wait-and-see atmosphere in the market, and analysts from Shengyi Society predict that nylon filament prices may continue to decline weakly.
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