1today's summary

3/20: The US continues to strengthen sanctions against Iran, and the instability in the Middle East brings potential supply risks, leading to an increase in international oil prices. NYMEX crude oil futures 04 contract rose by $1.10 per barrel to $68.26, a month-on-month increase of +1.64%; ICE Brent oil futures 05 contract rose by $1.22 per barrel to $72.00, a month-on-month increase of +1.72%. China's INE crude oil futures main contract 2505 rose by 0.6 to 522 yuan per barrel, and the night session increased by 12.1 to 534.1 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 companies maintain low-load production, with general demand, and the supply of the domestic PA66 industry is relatively stable.

③、Invista (China) Investment Co., Ltd. announced that starting from 7:00 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 East China as a reference, today's EPR27 market price is 16800-17000 yuan/ton, a decrease of 1.46% compared to yesterday.Raw material prices fluctuate, the cost side lacks support, downstream demand is weak, market supply is abundant, industry supply exceeds demand gradually becoming prominent, the market operates in a weak state.

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 operating on the weaker side, and the market continues to face losses.

4price prediction

Demand side shows no significant recovery, downstream mostly purchases as needed, market supply is stable and sufficient, overall market fundamentals are relatively weak, industry confidence is lacking, it is expected that in the short term, domestic PA66 will operate with a narrow fluctuation.

5related product information

Adipic acid market:East China market adipic acid reference 7400-7600 RMB/ton acceptance delivery, prices remain stable compared to yesterday. Today, the East China adipic acid market is quietly consolidating. In the early session, raw material trends fluctuated, with no clearer guidance on fundamentals. Holders followed the market, keeping offer ranges steady. End-users purchased according to demand, and the trading atmosphere was flat, with attention on actual orders.