Price trend

According to the bulk list data of business society, the domestic PA66 market trend fell all the way in March, and the spot prices of various brands decreased significantly. As of March 28, the average ex factory price of PA66 adhesive injection molding sample enterprises of business society was about 31000 yuan / ton, with an increase or decrease of – 8.82% compared with the average price at the beginning of the month.

Cause analysis

Industrial chain: upstream, adipic acid market rose first and then declined this month. In the first half of the month, pure benzene drove adipic acid higher. In the second half of the month, the supply side was abundant and the terminal demand was cautious. The transaction was not ideal, so it was difficult to support the rising price of adipic acid. The operating rate remains at a high level of 75%, and the reservoir pressure is obvious at present. The change of adiponitrile market is limited, but the start-up of adiponitrile domestic production line is approaching, there is bad news on the spot price in the short term, the level of port arrival is general, and the overall support effect on PA66 spot is limited.

The price of adipic acid, the upstream raw material, fell, the change of adiponitrile market was limited, and the cost side support of PA66 fell. In terms of industrial operating rate in March, the load level of domestic PA66 enterprises was high and sideways. In terms of port, the inventory position is acceptable, and the arrival volume of overseas goods is general. In terms of demand, at present, terminal enterprises take goods to follow up, prefer to just need to maintain production, and have strong resistance to high price goods. In addition, domestic health events rebounded in mid and late March, affecting logistics in many places, shrinking the demand of some downstream factories in China, and reducing the shipment fluency of merchants. In March, the overall transaction resistance on the floor was too large, the seller’s mentality was poor, and the gradual price reduction and order taking operation ran through the whole month.

Future forecast

Business analysts believe that the spot price of PA66 fell weakly in March. The improvement of adiponitrile market on the raw material side was limited, adipic acid market rose and fell below the average price at the beginning of the month, and PA66 cost side support weakened. On the supply side, the load of PA66 enterprise is high, and the inventory pressure of enterprises and midstream is high. The demand side has a deep resistance to the supply of high price goods, the on-site trading continues to be sluggish, and the market momentum is insufficient. It is expected that PA66 may maintain a weak market in the short term.