[PA6 Morning Brief] PA6 Market Expected to Experience Minor Adjustments in the Near Term

1. Focus Points

1 ） On September 18, concerns about the U.S. economy and demand outlook overshadowed the positive impact of the Federal Reserve's interest rate cuts, leading to a drop in international oil prices. NYMEX crude oil futures for the October contract fell by $0.48 per barrel to $63.57, a decrease of 0.75% compared to the previous period. ICE Brent crude oil futures for the November contract fell by $0.51 per barrel to $67.44, also a decrease of 0.75% compared to the previous period. China's INE crude oil futures for the 2511 contract fell by 3.5 to 496.3 yuan per barrel, with the night session dropping by 7.5 to 488.8 yuan per barrel.

2 ） Sinopec's caprolactam weekly settlement price last week was 9,184 yuan/ton (six-month acceptance without interest), an increase of 64 yuan/ton compared to the previous period.

3 Sinopec's East China and South China refineries have reduced the price of pure benzene by 100 yuan/ton, setting it at 5,900 yuan/ton, effective from September 4th.

Core logic: The raw material market is running weakly, and the downstream replenishment mentality is cautious, leading to a decline in PA6 market prices.

2. Price List Form

3 . Market Outlook

The caprolactam market continues to show a weak consolidation trend, with limited cost support. Additionally, downstream demand remains limited, primarily maintaining on-demand procurement. Polymer enterprises are experiencing slow sales or engaging in minor negotiations for sales. It is expected that the PA6 market will undergo slight consolidation in the near term.