Price trend
Recently, the domestic PA6 market was stable and weaker, with various spot prices decreasing in a narrow range. According to data monitoring from SunSirs, as of April 2nd, the average factory price of PA6 in China was 13,825 RMB/ton, a decrease of 2.18% compared to the average price level at the beginning of the month.
Analysis review
In terms of raw materials:
It can be seen from the figure above that the price of CPL market fell this week. The price of raw material pure benzene rebounded, and cost support stopped falling and strengthened. In addition, the load of CPL industry dropped, and the market supply pressure eased. Downstream procurement was just in needed, and the operation was mainly cautious. It is expected that CPL will slowly recover in the short term, and the support for PA6 may increase.
On the supply side:
This week, the overall load of domestic PA6 production enterprises was above 73%, with a narrow increase overall. The market supply was stable, the inventory position was on the high side, the supplier's support for spot goods was average, and the factory price pricing was narrowly loosened.
In terms of demand:
On the downstream side, the overall load of the weaving and spinning industries was sideways, but the consumption of raw materials was not good. At the beginning of the week, some actual orders were purchased from low-priced sources, and the demand for replenishment in the second half of the week was weak. The wait-and-see atmosphere on the market was heavy, trading was light, and overall demand for PA6 chips was average.
Market outlook
This week, the PA6 market saw a narrow decline. The load of domestic polymerization plants was stable and increased, and the supply maintained an adequate level. On the demand side, it was similar to last week, with stocking bias towards maintaining production. CPL ran in shock, and PA6 cost end support stopped falling and became stronger. The market was mainly wait-and-see sentiment, and the cost side support was gradually showing. It is expected that the PA6 market may warm up in the short term.
