[PA6 Daily Review] Downstream Buyers Selectively Restock on Low Demand, PA6 Market Consolidates

1 Today's Summary

①、 Last week, Sinopec's caprolactam weekly settlement price was 9,184 RMB/ton (six-month acceptance, interest-free), up 64 RMB/ton from the previous period.

②、 Sinopec's pure benzene prices at refineries in East China and South China have been reduced by 100 yuan/ton, now set at 5,900 yuan/ton, effective from September 4.

2 Spot Overview

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

Today, the nylon 6 market is stabilizing and operating. The market price of caprolactam continues to decline, weakening cost support. Additionally, downstream enterprises have limited demand and a cautious attitude towards purchasing raw materials, leading to limited market transactions and actual transactions being negotiated. East PA6 conventional spinning ordinary price is 9200-9500 yuan/ton cash short delivery, high-speed spinning spot price is 9600-9900 yuan/ton acceptance delivery. Chao Lake price is 8500-8600 yuan/ton cash self-pickup.

3 Production Dynamics

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

2 The conventional spinning profit of polyamide 6 staple fiber is -50 yuan/ton, while the high-speed spinning profit is -379.6 yuan. /ton.

4 Price Prediction

From the cost perspective, the caprolactam market is operating weakly, leading to decreased cost support. On the supply and demand side, with the restart of Yangmei and the production commencement of Guangxi Hengyi and Yuehua New Materials, supply is expected to increase. However, downstream buyers may remain cautious and maintain just-in-time replenishment. It is expected that the PA6 market will experience slight adjustments in the near term.

5 The situation of related products

①、 Caprolactam Market: Today, the caprolactam market price in East China centers around 8,650 RMB/ton delivered on acceptance. Supply has partially recovered, but demand lacks improvement, causing the focus of caprolactam negotiations to trend lower.

②、 Nylon filament market: The market price of nylon POY 85D/24 in the Jiangsu, Zhejiang, and Fujian regions is 11,500-12,500 RMB/ton, with some offers slightly higher. Driven by costs, it is difficult for enterprises to trade at high offer levels. Negotiations for nylon yarn are mainly based on essential demand, and the industry operates on thin profits.

6. Data Calendar

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