Price trend

According to the bulk list data of business society, the domestic PA66 market fell weakly in mid April, and the spot prices of various brands continued to decline. As of April 18, the average ex factory price of PA66 adhesive injection molding sample enterprises of business society was about 27750 yuan / ton, with an increase or decrease of – 10.48% compared with the average price at the beginning of the month.

Cause analysis

Industrial chain: in the upstream, the price of adipic acid in China continued to decline, and the weekly decline of adipic acid in East China was 0.97%. On the one hand, the prices of upstream pure benzene and cyclohexanone fell. In addition, the supply increased compared with the previous period, while the terminal demand was still cautious and the transaction was not ideal, resulting in the continuous weak downward trend of adipic acid. The domestic supply of adiponitrile is abundant, 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 market supply of adiponitrile improved, and the cost side support of PA66 was general. At present, there are limited changes in the operating rate of the industry. The load level of domestic PA66 enterprises is basically in dynamic balance, with a high horizontal plate. There is a lot of spot supply on the site, which has a certain suppression on the profits of PA66 enterprises. 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, at present, the impact of domestic health events still exists, and the logistics in many places are affected to varying degrees. The demand of some downstream factories in China is shrinking, and the shipment resistance of merchants is large. On site transactions declined, the seller’s mentality was poor, and the operation continued to reduce prices and take orders.

Future forecast

Business analysts believe that the spot price of PA66 continued to decline in mid April. The market of adiponitrile on the raw material side was weak, the market of adipic acid also fell, and the cost side support of PA66 was poor. The supply of PA66 is sufficient, and there is inventory pressure on enterprises and midstream. The demand side has a deep resistance to high price supply, and the market trading continues to be sluggish. It is expected that PA66 may maintain a weak market in the short term.