【PA66 Daily Review】With no significant warming in demand, PA66 is expected to remain weak.
1Today's Summary
① On March 24: The U.S. plans to intensify sanctions on oil-producing countries such as Venezuela, increasing potential supply risks, leading to an increase in international oil prices. NYMEXThe current value of the 69.11 yuan contract rose 0.83 yuan per barrel, with the gain of +1.22% compared to the previous close. The ICE Brent futures contract rose 0.84 yuan per barrel, with the gain of +1.16% compared to the previous close.
② Today, the domestic PA66 capacity utilization rate is 58%, with a daily output of approximately 2,200 tons. Under cost and demand pressures, domestic polymerization 66 enterprises maintain low-load production. Demand is generally weak, and the supply of goods in the domestic PA66 industry is relatively stable.
③ Invista (China) Investment Co., Ltd. announced that the spot price of hexamethylene diamine (HMD) will be adjusted to RMB 21,300/ton, effective March 1, 2025, at 7:00 a.m., an increase of RMB 300/ton compared to the February price.
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Based on the Yuyao market in East China, today's market price for EPR27 is referenced at 16,800-17,000 yuan/ton, stable compared to yesterday's price. Raw material prices are fluctuating, with a lack of support from the cost side. Downstream demand is weak, market supply is abundant, industry confidence is insufficient, and market transactions are light.
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Today, 66 domestic companies have maintained their production utilization rate at 58%. The production utilization rate has remained stable, and the supply of raw materials has remained stable. In terms of profitability, today's prices for citric acid and butanenitrile have narrowed, and the original material costs have been relatively stable, but the price of PA66 has been weak, continuing to affect the profitability of the industry.
4- Price Forecasting
The demand side lacks clear recovery, aggregated enterprises are having difficulty selling at high prices, and industry inventories are gradually piling up, while the cost end of aggregated enterprises still faces pressure, a short-term downward adjustment of domestic PA66 is expected. Pay attention to the price guide indication of Yingwei Da's diphenylene diamine.
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