[Polyamide 66 Daily Review] Supply-Demand Game Leaves Market Stalemated and Oscillating

1 Today's Summary

①、 [Longzhong] 5/12: Significant differences between the U.S. and Iran have stalled the talks, heightening concerns over supply risks and pushing international oil prices higher. NYMEX crude oil futures June contract settled at $102.18/bbl, up $4.11/bbl, or +4.19% from the previous session; ICE Brent crude futures July contract settled at $107.77/bbl, up $3.56/bbl, or +3.42%. China’s INE crude oil futures 2606 contract rose by 2.5 to 635.1 yuan/bbl, and gained another 16.9 to 652 yuan/bbl in night trading.

② Today, domestic PA66 capacity utilization stands at 65%; downstream buyers are cautious about following high prices, and supply and demand remain in a tug-of-war.

③、 Invista (China) Investment Co., Ltd. (Invista) announced that starting from May 1, 2026, at 7:00 AM, the spot trading price of Dytek® Hexamethylenediamine (HMD) will be set at 27,000 RMB per ton. This price includes value-added tax and is applicable only to HMD contract orders that meet certain quantity requirements purchased from Invista's Yinglong plant under FCA terms.  

④ INVISTA (China) Investment Co., Ltd. The limited company (Invista) announced on From 7:00 on May 1, 2026 Model PA66 U4800 NC01 SS (7 The spot transaction price of nylon 6,6 polymer (“U4800”) in 50 kg packaging shall be based on 23000 yuan RMB/ton shall apply. This price includes value-added tax and is only applicable to purchases of more than a certain quantity from the Invista Yilong plant under FCA terms. U4800 Contract Order.

2 Spot Market Overview

Table 1 Domestic PA66 Price Summary (Unit: RMB/ton)

Based on the domestic PA66 engineering plastics-grade chip market, as cost-side pressure remains, domestic PA66 producers’ offers today are referenced at RMB 21,000–23,000/tonne, unchanged from the previous trading day. 。 Raw material prices are fluctuating, and there is a lack of strong support from the cost side. The downstream market for PA66 chips shows a clear resistance to high-priced sources.The market circulation price for industrial plastic-grade chips in spot and small-batch transactions is lower than domestic factory quotes, and can be referenced at RMB 21,000–22,000 per ton. The industry as a whole...The market sentiment is relatively weak, and the atmosphere for high-priced in-market transactions is average.

Figure 1 2022-2026 Annual Domestic PA66 Price Trend Chart (RMB/ton)	Figure 2 2025-2026 Domestic PA66 East China Price Trend Chart (RMB/ton)
Data source: Longzhong Information	Source: Longzhong Information

3 Production Dynamics

Today, the capacity utilization rate of domestic PA66 enterprises is about 65%. With the expectation of a long-term reduction in industry supply, companies’ inventory pressure is gradually increasing. In terms of profits, raw material cost pressure still remains, and domestic PA66 is expected to continue operating at a loss in the short term.

Figure 3 2025-2026 Trend Chart of Domestic PA66 Capacity Utilization Rate in China	Figure 4 2025-2026 Yearly Domestic PA66 Profit and Price Comparison Chart (CNY/ton)
Data source: Longzhong Information	Source: Longzhong Information

4 Price forecast

Support from raw material costs is limited, downstream buyers are cautious about following up at high prices, and overall market sentiment is weak. The supply-demand tug-of-war has intensified, and the domestic PA66 market is expected to remain deadlocked in the short term.

5 Related product information

Adipic Acid Market: Based on the East China market, today the price of adipic acid is reported at 8800-9200 RMB/ton, which is an increase compared to previous prices and aligns with earlier expectations. Today, the domestic adipic acid market has strengthened. Raw material prices have fluctuated within a narrow range, and the cost side is still under observation. Suppliers have raised their guidance prices, and coupled with some units reducing their output, the supply side provides favorable support for market participants' trading mentality. Previous low price offers have converged, and holders of goods are following the market, raising their offer range. End users remain cautious, with just-in-time purchases for immediate needs, resulting in average performance for actual transactions. In East China, the reference price is 8800-9200 RMB/ton, delivered and accepted, with room for negotiation on actual orders.

Table 2 Overview of Domestic PA66 Data (Unit: 10,000 Tons)