[PA6 Morning Alert] Expected Recent PA6 Market To Continue Negotiating Shipments, Prices Slightly Weakening

1. Focus Points

1 ） On September 26, the intensity of the Russia-Ukraine conflict has recently increased, raising market concerns over potential supply risks, leading to a rise in international oil prices. The NYMEX crude oil futures contract for November increased by $0.74 per barrel to $65.72, a month-on-month increase of 1.14%. The ICE Brent crude futures contract for November rose by $0.71 per barrel to $70.13, a month-on-month increase of 1.02%. China's INE crude oil futures contract for November rose by 0.2 to 489.1 yuan per barrel, with a night session increase of 5.9 to 495 yuan per barrel.

2 ） Sinopec's high-end caprolactam settlement price for September 2025 is 9,080 yuan/ton (liquid superior grade, six months acceptance for self-pickup), down 250 yuan/ton from the August settlement price.

3 Sinopec has reduced the price of pure benzene by 100 RMB/ton in East and South China refineries, with the new price set at 5900 RMB/ton, effective from September 4th.

Core logic: The raw material market is in a weak consolidation, and downstream replenishment mentality is cautious; the PA6 market is operating weakly.

2. Price List Form

3.Market Outlook

Raw material supply is sufficient, which is bearish for the market, leading to limited cost support. Additionally, the pre-holiday restocking sentiment in the downstream sector is generally moderate, with a focus on selective low-level restocking. It is expected that the PA6 market will continue to negotiate and ship goods in the near future, with prices slightly weak and consolidating.