1, Today's Summary

①, 3/3: Concerns over US tariff hikes dragging down the global economy and demand, coupled with uncertainty about whether OPEC+ will postpone its production increase plan, led to a decline in international oil prices. The NYMEX crude oil futures 04 contract fell by $1.39 per barrel to $68.37, a decrease of -1.99%; the ICE Brent oil futures 05 contract (after rollover) fell by $1.19 per barrel to $71.62, a decrease of -1.63%. China's INE crude oil futures main contract 2504 dropped by 3.3 to 539.2 yuan per barrel, and during the night session, it further declined by 12.7 to 526.5 yuan per barrel.

②, Today, the domestic PA66 capacity utilization rate is 58%, with daily production at approximately 2,200 tons. Under the pressure of costs and demand, domestic PA66 polymerization companies are maintaining low-load production. After the holiday, downstream enterprises have gradually resumed operations, stabilizing the supply of PA66 industry resources domestically.

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

2, Spot Overview

Taking the Yuyao market in East China as a benchmark, today's EPR27 market price reference is 17,300-17,400 RMB per ton, stable compared to yesterday. The raw material adipic acid is showing weak fluctuations, while hexamethylenediamine is showing strong fluctuations, with cost support remaining stable. Downstream demand is average, and the market supply is relatively stable, with light trading activity.

3, Production Dynamics

Today, the domestic PA66 polymerization companies' capacity utilization rate remains stable at 58%. The industry continues to operate at a lower load. In terms of profit, the prices of adipic acid and hexamethylenediamine are fluctuating, with significant pressure from raw material costs, and the domestic PA66 market price remains stable, continuing in a loss-making state.

4, Price Forecast