1today's summary

①, 3/21: The market believes that the Asian economy and demand are expected to improve. Coupled with the instability in the Middle East, which still brings potential supply risks, international oil prices have risen. NYMEX crude oil futures for May contract increased by $0.21 per barrel to $68.28, a month-on-month increase of +0.31%; ICE Brent crude oil futures for May contract increased by $0.16 per barrel to $72.16, a month-on-month increase of +0.22%. China's INE crude oil futures main contract 2505 increased by 9.3 to 531.3 yuan per barrel, and the night session increased by 4.4 to 535.7 yuan per barrel.

②, Today's domestic PA66 capacity utilization rate is 58%, with a daily output of about 2,200 tons. Under the pressure of costs and demand, domestic polymer 66 enterprises maintain low-load production, with general demand, and the supply of domestic PA66 industry is relatively stable.

③、Invista (China) Investment Co., Ltd. announced that starting from 7:00 am on March 1, 2025, the spot trading price of hexamethylenediamine will be executed at 21,300 RMB/ton, an increase of 300 RMB/ton compared to the February price.

2spot overview

Table 1 Domestic PA66 Price Summary (Unit: Yuan/Ton)

Taking the Yuyao market in the East China region as a reference, today's EPR27 market price is around 16800-17000 yuan/ton, stable compared to yesterday's price.Raw material prices fluctuate, lacking support from the cost side, with weak downstream demand, ample market supply, insufficient industry confidence, and a sluggish market.

3production dynamics

Today, the capacity utilization rate of domestic PA66 enterprises remains stable at 58%. With a stable capacity utilization rate, the industry's supply of goods is also stable. In terms of profits, the prices of adipic acid and hexamethylenediamine are slightly adjusted today, with raw material costs fluctuating minimally. However, the price of PA66 is on the weaker side, and the market continues to operate at a loss.

4price prediction

Demand side has not shown a significant recovery, with high prices from polymer enterprises leading to poor sales, and industry inventories gradually accumulating. Meanwhile, the cost pressures on polymer enterprises remain, and it is expected that the domestic PA66 market will be relatively weak in the short term. Specific attention should be paid to the price guidance for Invista's hexamethylenediamine.

5related product situation

Adipic acid market:East China market adipic acid reference 7400-7600 yuan/ton acceptance delivery, prices stable compared to yesterday. Today, the East China adipic acid market is steady and observing. At the beginning of the week, there is an inertia of observation in the early trading, with relatively quiet news. Traders follow the market, and the enthusiasm for quotations is low. The market focus is on stable operation, and the end-users are flexibly entering the market for negotiations, observing actual transactions.