[PA6 Daily Review] Downstream Picks Low Inventory, PA6 Market Weakly Consolidates

1 Today's Summary

①、 Sinopec's high-end caprolactam settlement price for September 2025 is 9,080 yuan/ton (liquid superior grade, six months acceptance for self-pickup), a decrease of 250 yuan/ton compared to the August settlement price.

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

2 Spot Overview

Today, the nylon 6 market is operating with a weak consolidation, and the raw material market is also weakly consolidating with ongoing cost pressures. However, downstream procurement of raw materials is nearing its end before the holiday, with a focus on stocking up based on low and suitable prices. In the sliced product market, there is a trend of lower negotiated prices, with actual transactions being discussed. Conventional spinning PA6 in the east is priced at 8,900-9,300 yuan/ton cash with short delivery, and high-speed spinning spot is priced at 9,300-9,700 yuan/ton delivered with acceptance. Chaohu is priced at 8,400-8,500 yuan/ton cash for self-pickup.

3 Production Dynamics

1 The capacity utilization rate of polyamide 6 is 75.76%.

2 The profit for conventional spinning of polyamide 6 chips is -50 yuan/ton, while the profit for high-speed spinning is -473.2 yuan. /ton.

4 Price Prediction

From the cost perspective, the caprolactam market has ample supply, which is bearish for the market and may lead to a weak trend. From the supply and demand perspective, supply is relatively stable, but downstream pre-holiday raw material purchasing mentality may gradually be completed, with limited demand. It is expected that the PA6 market will undergo slight adjustments in the near future.

5 Relevant product information

①、 Caprolactam Market: Today, the spot price of caprolactam in East China is 8,350 yuan/ton with acceptance and delivery. As the National Day holiday approaches, the pre-holiday spot trading is coming to an end, and the caprolactam market is primarily consolidating.

②、 Nylon filament market: The market price of nylon POY 85D/24 in the Jiangsu, Zhejiang, and Fujian regions is 11,200-12,300 yuan/ton. Cost-driven Some offers are slightly higher, and it's challenging to trade at high levels for companies. The nylon filament market mainly involves negotiations for essential needs, with the industry experiencing minimal profits.

6. Data Calendar

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