[pa6 daily review] downstream procurement sentiment becomes cautious, pa6 market consolidates

1 Today's Summary

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

②、 Sinopec has reduced the price of pure benzene at refineries in East and South China by 100 yuan/ton, setting the price at 5,900 yuan/ton, effective from September 4th.

2 Spot Overview

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

The polyamide 6 market is stable today. Due to the partial reduction in raw material supply, companies have increased their quotations, but downstream companies are becoming more cautious in their purchasing mindset, opting for low-priced essential replenishments and negotiating actual transactions. Conventional spinning PA6 in East China is priced at 9,150-9,450 RMB/ton, cash, short-distance delivery. High-speed spinning spot goods are at 9,600-9,900 RMB/ton, delivery with acceptance. In Chaohu, the cash self-pickup price is 8,550-8,650 RMB/ton.

3 Production Dynamics

1 The capacity utilization rate of polyamide 6 is 75.39%.

2 The profit for conventional spinning and cutting of polyamide 6 is -225 yuan/ton, and the profit for high-speed spinning is -381.75 yuan/ton. /ton.

4 Price prediction

From the cost perspective, the caprolactam market is operating steadily, and the pressure on cost remains due to losses in chip profits. From the supply and demand perspective, domestic chip supply may continue to decrease, but downstream purchasing sentiment is gradually becoming cautious, mainly replenishing as needed at lower prices. It is expected that the PA6 market will undergo slight adjustments in the near future.

5 Relevant product information

①、 Caprolactam Market: Today, the caprolactam market in East China remains stable and observant. Some sellers have raised prices by 300 yuan/ton, but higher prices lack buyer follow-up. Downstream buyers are willing to negotiate with an increase of 50-100 yuan/ton. Actual transactions in the market are limited, with most waiting for further negotiations.

②、 Nylon filament market: In the Jiangsu, Zhejiang, and Fujian regions, the market price for nylon POY 85D/24 is 11,500-12,500 yuan/ton. Some offers are slightly higher, driven by costs, but it is difficult for enterprises to trade at high quoted prices. The overall negotiation for nylon yarn is based on just-in-time needs, and the industry is experiencing minimal profits.

6. Data Calendar

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