[pa6 daily review] cost support continues to strengthen, pa6 market operates steadily

1 Today's Summary

①、 Last week's settlement price for Sinopec caprolactam was 8,730 yuan/ton (six-month acceptance with no interest), an increase of 190 yuan/ton compared to the previous period.

②、 Sinopec has reduced the price of pure benzene at various refineries in East and South China by 200 yuan/ton, setting the price at 5,450 yuan/ton, effective from October 21.

2 Spot Overview

Today, the polyamide 6 market is operating firmly. The price of the raw material caprolactam continues to rise, enhancing the cost support for the chips. Some polymerization companies have followed suit by raising the ex-factory prices of the chips. However, downstream buyers are becoming cautious about high-priced chip restocking, mainly opting to replenish at lower prices, with actual transactions being negotiated. In East China, regular spinning PA6 is priced at 9000-9300 yuan/ton with short cash delivery, while high-speed spinning spot prices are at 9200-9400 yuan/ton with delivery on acceptance.

3 Production Dynamics

1 The capacity utilization rate of polyamide 6 is 79.58%.

2 The profit for regular spinning of Polyamide 6 chips is -100 CNY/ton, and the profit for high-speed spinning is -482 CNY/ton. /ton.

4 Price Prediction

From the cost perspective, some caprolactam enterprises have plans to reduce production, supporting its price; from the supply and demand perspective, domestic polymer enterprises have stable supply, and Guangxi Hengyi is gradually starting production. However, downstream buyers are cautious about replenishing high-priced chips, and market transactions may mainly focus on low prices. It is expected that the PA6 market will remain firm in the near future.

5 Related Product Information

①、 Caprolactam Market: Today The price of caprolactam in the East China market is 8,450 yuan/ton delivered on acceptance, an increase of 125 yuan/ton compared to the previous trading day. The tight supply of caprolactam in the market continues to support the price, and the price focus continues to rise.

②、 Nylon filament market: In the Jiangsu-Zhejiang region, the market price for semi-dull nylon FDY 70D/24 is 11,600-12,100 yuan/ton, with June acceptance and no credit issues; prices are quoted high in the absence of goods. The wool spinning 40D7 is quoted at 13,700-14,300 yuan/ton by telegraphic transfer. Raw material support is average, industry operations are normal, and inventory is not large. Downstream weaving in wool spinning and warp knitting continues to operate, with average demand follow-up. Overall, the trend is weak.

6. Data Calendar

Table 2 Overview of Domestic Polyamide 6 Data (Unit: 10,000 tons, RMB/ton, days)