[PA66 Weekly Review] Weak Demand, Market Operating Weakly

1. This week's market focus

production: according toStatistics, the average weekly capacity utilization rate of domestic aggregation this week is about 58%, which is stable compared to last week, with a capacity base of 1.271 million tons.

2) Demand: The terminal market demand is average, and the downstream purchasing enthusiasm is lackluster.

2. weekly market analysis

This week, the domestic PA66 market showed a weak trend. As of March 20th, the market price of EPR27 in Yuyao, East China, was around 17,000-17,300 yuan/ton, a decrease of about 1.15% compared to last week. The raw material adipic acid showed a weakening trend, while hexamethylenediamine remained stable. The cost side lacked support points, with weaker downstream demand. The capacity utilization rate of polymerization enterprises remained stable, and the market supply was sufficient, leading to a slight weakening in the market transaction focus.

3. Market Impact Factors Analysis

1) The raw material adipic acid fluctuates, in March 2025, the implementation price of Invista's hexamethylenediamine is stable at 21,300 yuan/ton, and hexamethylenediamine is being organized and operated. Pay attention to the price guidance of Invista's hexamethylenediamine in April.

2) Downstream demand is average, mostly following needs.

4. Next week's market forecast

From the cost perspective, raw materialsNarrow range weakening, hexamethylenediamine consolidation operation, cost side lacks strong support points. From the perspective of supply and demand, there is no significant recovery in terminal market demand, with downstream mostly purchasing according to needs, while polymer enterprises maintain low load production. Due to weak demand, the market supply is abundant, and the fundamentals are expected to fluctuate little. In the short term, the domestic PA66 market may continue to consolidate. Specifically, attention can be paid to Invista's April hexamethylenediamine listed price guidance.