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【PA66 Daily Review】Polymer companies plan to concentrate on production cuts, and PA66 is expected to consolidate.

Longzhong 2025-03-28 17:56:37

1 Today's Summary

①、 On March 27: The extension of U.S. sanctions on certain oil-producing countries has raised concerns about potential supply risks in the market, leading to an increase in international oil prices. NYMEXCrude oil futuresThe May contract rose to $69.92, up by $0.27 per barrel, with a sequential increase of 0.39%; ICE Brent futures for May rose to $74.03, up by $0.24 per barrel, with a sequential increase of 0.33%. China's INE crude oil futures主力contract for May increased by 4.0 to 543.4 yuan per barrel, and during the night session, it fell to 543 yuan per barrel.

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

③、 Innova (China) Investment Co., Ltd. announced that starting from April 1, 2025 at 7:00 am, the spot trading price for hexamethylenediamine will be executed at RMB 21,300 per ton, which remains stable compared to the price in March.

2 Spot Overview

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

Market	Specification	3 May 27th	3 28th	Rise and Fall Value	Change幅度 Please note that "幅度" is a Chinese term that doesn't have a direct translation in this context, so it's kept as is. For a full translation, it could be "Change Range" or "Change Extent" depending on the context.
Yuyao	EPR27	16900	16900	0	0%
Key upstream
China	Adipic acid	7500	7500	0	0%
Data Source:隆众资讯

Based on the Yuyao market in East China, the reference price for EPR27 today is 16,800-17,000 yuan/ton, remaining stable compared to yesterday's price. Raw material prices fluctuate, with limited cost support. Downstream buyers mostly purchase on demand, while market supply remains ample. Polymer enterprises have concentrated production reduction plans, and the market is temporarily stable and consolidating.

Figure 1 Domestic PA66 Price Trend Chart for 2025 (RMB/ton)	Figure 2: Domestic PA66 Price Trend in East China for 2025 (CNY/ton)

Data source: Longzhong Information	Data source: Longzhong Information

3 Production Dynamics

Today, the comprehensive capacity utilization rate of 66 domestic agglomerated enterprises remains temporarily stable at 58%. The supply of goods in the industry is abundant, and some companies have plans to reduce production. In terms of profitability, today the prices of adipic acid and hexamethylene diamine have fluctuated slightly, with little change in raw material costs. However, the price of PA66 is weak, and the market continues to operate at a loss.

Figure 5: Domestic PA66 Capacity Utilization Rate Trend Chart for 2024-2025	Figure 6: Comparison of Domestic PA66 Profit and Price in 2025 (Yuan/Ton)

Data source: Longzhong Information	Data source: Longzhong Information

4 price prediction

The demand side has not shown significant recovery, and downstream customers are mainly purchasing according to their needs. Under the pressure of costs, polymer enterprises plan to concentrate on production cuts. It is expected that the domestic PA66 market will operate in an orderly manner in the short term.

5 Related product situation

Adipic acid market: Taking the East China market as a benchmark, today adipic acid closed at 7400-7600 yuan/ton, with the high and low prices adjusted downward compared to previous prices, which is in line with the morning's expectations. Today, the domestic market for sebacic acid is quiet with a wait-and-see attitude. The spot price of raw material pure benzene has shown slight strength, with weak support from the cost side, leading to an increase in cautious sentiment among industry players. Throughout the day, suppliers have gradually clarified settlement messages, and holders are waiting for actual invoicing guidance. The trading market's pricing intentions are relatively weak, with sporadic stable quotes, and some lower-end supplies still available. End-user purchasing interest is insufficient, with inventory replenishment remaining strictly demand-driven, and the trading atmosphere has not improved. In East China, the reference price is 7400-7600 yuan/ton on a cash delivery basis, and actual transactions are negotiable.

6 Data Calendar

Table 2: Domestic PA66 Data Overview (Unit: 10,000 Tons)

Data	Release Date	Previous period data	This period's trend forecast
Capacity Utilization Rate	Thursday 11:30 AM	58%	→
Weekly Production	Thursday at 4:00 PM	1.56	→
Data source: Longzhong Information Note: 1 ↑↓ are considered significant fluctuations, highlighting data dimensions with price changes exceeding 3%. 2 Regarded as narrow fluctuations, highlighting data with a price change within 0-3%.

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【PA66 Daily Review】Polymer companies plan to concentrate on production cuts, and PA66 is expected to consolidate.

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