[PA6 Daily Review] Downstream Selectively Replenishes at Low Prices, PA6 Market Runs Sideways

1 Today's Summary

①、 The weekly settlement price of Sinopec caprolactam is 9,290 yuan/ton (six-month acceptance without interest), down 285 yuan/ton from the previous period.

②、 Sinopec has raised the prices of pure benzene at its East China and South China refineries by 100 yuan/ton, implementing a new price of 6,150 yuan/ton, effective from August 12.

2 Spot Overview

Today, the polyamide 6 market is operating steadily. Raw material prices have slightly decreased, and there is still cost pressure due to losses in chip profits. Polymerization companies have temporarily maintained stable quotations, and downstream buyers are mainly replenishing stocks as needed at lower prices. In the market, transactions are being negotiated. In East China, the regular spinning grade PA6 is priced at 9150-9650 RMB/ton with short-distance cash delivery, while high-speed spinning spot is priced at 9800-10000 RMB/ton with payment on delivery. In Chaohu, the cash self-pickup price is 8550-8650 RMB/ton.

3 Production Dynamics

1 The capacity utilization rate of polyamide 6 is 75.43%.

2 The profit for conventional spinning PA6 chips is -175 yuan/ton, and the profit for high-speed spinning is -359.75 yuan/ton. /per ton.

4 Price Prediction

From the cost side, the caprolactam market is under multiple pressures, and market prices are slightly weak. Cost pressures remain as chip production continues to incur losses. In terms of supply and demand, several domestic enterprises have reduced operating rates, and more companies plan to do so in the near future, leading to decreased supply. Downstream buyers mainly replenish inventories as needed at lower prices. The PA6 market is expected to undergo slight adjustments in the near term.

5 Relevant product information

①、 Caprolactam Market: Today in East China Caprolactam price 8750-8800 yuan/ton acceptance delivery, downstream PA6 polymerization partially reduced pressure, raw materials selectively replenished as needed at lower prices, negotiation focus slightly shifted downward.

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 companies are finding it challenging to trade at high quotations. Negotiations for nylon yarn are primarily based on just-in-time demand, and the industry is experiencing minimal profits.

6. Data Calendar

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