1Today's Summary

March 25: The Russia-Ukraine talks continue to progress, but the situation in the Middle East remains uncertain, leading to fluctuating international oil prices.The May contract fell by $0.11 to $69.00 per barrel, with a sequential decrease of -0.16%; the ICE Brent futures for May rose by $0.02 to $73.02 per barrel, with a sequential increase of +0.03%. China INE.The main contract for May 2025 rose by 4.0 to 537.3 yuan/barrel, and in the night session, it rose by 1.3 to 538.6 yuan/barrel.

② As of today, the domestic PA66 capacity utilization rate is 58%, with a daily output of about 2,200 tons. Under cost and demand pressures, domestic PA66 producers maintain low production loads, and demand remains moderate. Therefore, the supply of PA66 in the domestic industry remains relatively stable.

③ Ingevity (China) Investment Co., Ltd. announced that starting from April 1, 2025 at 7:00 am, the spot trading price of hexamethylenediamine will be implemented at RMB 21,300 per ton, unchanged from the price in March.

2Spot Overview

Taking Yuyao market in East China as the benchmark, the EPR27 price range today is referenced at RMB 16,800 to 17,000 per ton, maintaining stability compared to yesterday's prices.Raw material prices fluctuate, lacking support from the cost perspective. Downstream demand is weak, with ample market supply. Industry confidence is low, and market transactions are sluggish.

3Production Dynamics

Today, the capacity utilization rate of 66 enterprises in the domestic agglomeration remains stable at 58%. The stable enterprise capacity utilization rate indicates stable supply of goods in the industry. In terms of profitability, the prices of adipic acid and hexamethylenediamine have been slightly adjusted today, with little fluctuation in raw material costs. However, the price of PA66 has been weak, and the market continues to operate at a loss.

4Price Forecast

Demand remains weak with downstream buyers purchasing as needed. Market supply is stable, but sentiment is cautious regarding the near-term outlook. The domestic PA66 market is expected to remain weak in the short term.

5Related product information

：The reference price for adipic acid in the East China market is 7,400-7,600 yuan per ton delivered on acceptance basis, steady from the previous day. Adipic acid in East China today.The price range remains stable. As the settlement approaches, market volatility is limited. Middlemen are mostly adopting a wait-and-see attitude, following the market trend and keeping their quotes steady. End-users are following up flexibly, but negotiations and purchases show no signs of improvement, maintaining only essential purchases.

6Data Calendar