1 Today's Summary

①、 On March 31, the United States indicated that it does not rule out the option of taking military action against Iran. Concerns over potential supply risks have increased, leading to a rise in international oil prices. NYMEX Crude oil futures The 05 contract rose by $2.12/barrel to 71.48, up 3.06% from the previous period; the ICE Brent crude futures 05 contract rose by $1.11/barrel to 74.74, up 1.51% from the previous period. China INECrude oil futuresThe main contract 2505 fell by 4.3 to 537.4 yuan/barrel, and rose by 16.5 to 553.9 yuan/barrel during the night session.

Today, the capacity utilization rate of domestic PA66 is 57%, with a daily output of about 2,200 tons. Under the pressure of costs and demand, the capacity utilization rate of domestic polymer 66 enterprises has decreased. The demand side is generally weak, and the supply of domestic PA66 industry is relatively abundant.

③、 INVISTA (China) Investment Co., Ltd. announced that from 7:00 on April 1, 2025, the spot transaction price of hexamethylenediamine will be implemented at RMB 21,300 per ton, remaining stable compared to the March price.

2 Spot overview

Table 1: Summary of Domestic PA66 Prices (Unit: RMB/ton)

Based on the Yuyao market in East China, today's market price for EPR27 is referenced at 16,800-17,000 yuan/ton, which is stable compared to yesterday's price. Raw material prices are fluctuating, with general support from cost aspects. Downstream procurement is mainly based on demand, and the market supply of goods is abundant. The production reduction plans of polymer enterprises are concentrated, and the market is stabilizing and adjusting.

Figure 1 2025 Domestic PA66 Price Trend Chart (CNY/ton)	Figure 2 2025 Domestic PA66 East China Price Trend Chart (RMB/ton)
Data source: Longzhong Information	Data Source: Longzhong Information

3 Production Dynamics

Today, the capacity utilization rate of domestic aggregated 66 enterprises remained stable at 57%. The industry has ample supply of goods, with some companies planning to reduce production. In terms of profits, the prices of adipic acid and hexamethylenediamine were narrowly adjusted today, with little fluctuation in raw material costs. However, the price of PA66 is weak, and the market continues to face losses.

Figure 5: Trend of domestic PA66 capacity utilization rate from 2024 to 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

Demand remains weak, with downstream buyers purchasing as needed. Polymerization enterprises, under cost pressures, plan to reduce production significantly. Short-term domestic PA66 market is expected to operate steadily.

5 Related product information

Adipic acid market ： The reference price for adipic acid in the East China market is 7,400-7,600 yuan per ton on an accepted basis delivered in East China, holding steady compared to the previous day. Today, in East China, Adipic Acid Market Stable and cautious. In the morning session, the market was driven by the stronger raw material end, leading to a dominant观望 atmosphere. Holders are cautiously operating and focusing on price fluctuations from major manufacturers. End-users are purchasing according to their needs, and actual trading remains sluggish, awaiting more news releases.

6 Data Calendar

Table 2 Domestic PA66 Data Overview (Unit: Ten Thousand Tons)