Upstream fall, demand is weak, PA6 price falls

1、 Price trend:

According to the data of the business club’s bulk list, the domestic PA6 market fluctuated and fell in mid September, and the spot prices of various brands declined. As of September 22, the mainstream offer price of 2.75-2.85 from traders was about 10650.00 yuan / ton, a decrease of 3.18% compared with the average price at the beginning of the month.

2、 Analysis of influencing factors:

In terms of caprolactam upstream of PA6, some caprolactam enterprises resumed production recently, and the spot supply increased. The domestic caprolactam price fell in mid September. As of September 22, the average ex factory price of caprolactam was about 9516.67 yuan / ton. Upstream pure benzene continued to hold a rigid consolidation in the early middle of the middle of the year, and then with the rise of crude oil, the price center of gravity rose. Moreover, the market supply of some hydrogenated benzene units was improved due to the maintenance of some hydrogenated benzene units. In addition, the downstream began to prepare goods before the festival, and the enterprise inventory decreased. It is expected that caprolactam market will decline steadily in the short term, and it is suggested to pay attention to terminal demand.

In mid September, the market of PA6 was down, and the price of upstream lactam fell. The recent trend of far upstream crude oil declined, and the support of cost side weakened. In addition, the global public health events have a rebound trend, the overall performance of the external market is negative, and the market lacks good news. The demand level of PA6 chips is general, and the consumption of downstream factories is not high. Although the overall operating rate of nylon filament has increased in recent years, the overall demand is weak, and most of the goods are prepared to cover positions at low prices, and the transaction of high price chips is not good. The market mentality is negative, the business confidence is insufficient, in the middle of September, the profits will be sold.

3、 Future forecast:

Business agency analysts believe: China’s PA6 market weakened in September, the spot prices of various brands mainly fell. The price of caprolactam in the upstream fell, and the cost side support of PA6 weakened. Downstream factories take goods just need to operate, the operation tends to buy on bargain. Business mentality is not strong, the operation of the real single to let profit go. PA6 market is expected to be affected by multiple bearish in the near future, or will continue the weak trend.