[PA6 Daily Review] Cost and Demand Game, PA6 Market Consolidates

1 Today's Summary

①、 This week, Sinopec's caprolactam weekly settlement price is 9,120 yuan/ton (six-month acceptance, interest-free).

②、 Sinopec has reduced the prices of pure benzene by 100 RMB/ton at its refineries in East and South China, implementing a new price of 5,900 RMB/ton, effective from September 4.

2 Spot Overview

Table 1 Summary of Domestic Polyamide 6 Prices (Unit: RMB/ton)

Today, the polyamide 6 market is operating in an organized manner. The raw material market negotiations have slightly declined, sliced product profits are at a loss with significant cost pressures, but downstream companies' purchasing sentiment is gradually becoming cautious. Polymer companies are temporarily stabilizing their quotations, with actual transactions subject to negotiation. East PA6 conventional spinning ordinary 9200-9500 RMB/ton cash short delivery, high-speed spinning spot 9600-9900 RMB/ton acceptance delivery. Chaohu 8550-8650 RMB/ton cash self-pickup price.

Figure 1 Domestic Polyamide 6 Weekly Price Trend Chart (Unit: Yuan/Ton)	Figure 2 Domestic Polyamide 6 and Raw Material Price Trend Chart (Unit: RMB/ton)
Data source: Longzhong Information	Data source: Longzhong Information

3 Production Dynamics

1 The capacity utilization rate of polyamide 6 is 75.79%.

2 The conventional spinning chip of polyamide 6 has a profit of -175 yuan/ton, and the high-speed spinning has a profit of -381.75 yuan. /per ton.

4 Price prediction

From the cost perspective, the supply of caprolactam may recover and market negotiations may trend lower, but cost pressure from losses in chip production profits still exists. From the supply and demand perspective, the commissioning of Guangxi Hengyi and Yuehua New Materials is expected to increase supply, but downstream buyers are becoming increasingly cautious, mainly replenishing as needed at lower prices. The PA6 market is expected to fluctuate slightly in the near term.

5 Relevant Product Information

①、 Caprolactam Market: Today, the caprolactam market price in East China continues to hover around 8,700-8,750 yuan/ton (delivered with acceptance). Overall demand remains weak, with downstream buyers mainly replenishing cautiously at lower prices.

②、 Nylon filament yarn market: The market price of nylon POY 85D/24 in the Jiangsu, Zhejiang, and Fujian regions is 11,500-12,500 yuan/ton, with some offers slightly higher. Due to cost drivers, companies find it difficult to trade at high offer levels. The nylon yarn market overall is driven by just-in-time demand, and the industry is experiencing slim profits.

6. Data Calendar

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