In May, the nylon filament market rose strongly, and the price of J showed a continuous upward trend. The main reason for the increase was driven by the cost. Caprolactam in the upstream of the cost side followed the rise of crude oil, and the overall price was strong, which formed a certain supporting role for high-speed spinning chips and nylon filament. However, the price rise did not drive the positive attitude of the downstream to take goods, and most downstream customers had insufficient confidence in the future market. The overall market wait-and-see atmosphere was thickened, and the trading atmosphere was not prosperous.
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Market price trend
Nylon price chart
Price trend of nylon POY (86d/24f)
From the perspective of price trend, the price of nylon filament was stable this week. According to the price monitoring of the business club, as of May 31, 2022, the quotation of domestic nylon POY (superior product; 86d/24f) was 18250 yuan / ton, an increase of 1125 yuan / ton compared with the beginning of the month, with a monthly increase of 6.57%; The price of nylon filament DTY (superior product; 70d/24f) is 20480 yuan / ton, an increase of 880 yuan / ton compared with the beginning of the month, with a monthly increase of 4.49%; The price of nylon FDY (superior product: 40d/12f) was reported at 21000 yuan / ton, up 325 yuan / ton or 1.57% compared with that at the beginning of the month.
Upstream raw material Market
Price fluctuation chart of nylon filament industrial chain
Raw material cyclohexanone: the domestic cyclohexanone market was running at a high level in May. According to the monitoring data of business agency, the average market price of domestic cyclohexanone at the beginning of the month was 11200 yuan / ton, and the average market price of domestic cyclohexanone at the end of the month was 11710 yuan / ton, an increase of 4.55% in the month and 10.06% year-on-year. In May, the cyclohexanone market continued to be on the high side, and the high level of raw material pure benzene supported the whole industry chain. In terms of supply, the operating rate of production enterprises was low, and the supply was slightly tight, adding positive factors. At the same time, the downstream continued to recover, the basic demand began to expand, and the cyclohexanone market was relatively strong in the whole may.
Raw material caprolactam: in May, caprolactam at the upstream of the cost side followed the rise of crude oil, and the overall price was strong, which further contributed to the growth of the nylon fiber market. Of which, caprolactam rose from 13483 yuan / ton at the beginning of the month to 14800 yuan / ton at the end of the month, an increase of 1317 yuan / ton, or 9.77% per month. The caprolactam analysts of the business club believe that the current raw material prices continue to strengthen, and the cost support is favorable. Some enterprises plan to repair devices, and the supply may be reduced. The demand side has limited follow-up and just needs to purchase. Under the high and strong market of raw materials, caprolactam price rises in the short term.
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Supply and demand market
On the supply side, the start-up of nylon production plants in early May remained at a high level. Although some manufacturers reduced their production, the on-site spot supply remained sufficient, and some manufacturers had inventory pressure. In addition, the demand for downstream terminals is weak, the overall enthusiasm for taking goods in the field is not good, and the follow-up of new orders is limited; There is no “buy up not buy down” mentality. Most customers continue to buy on demand and follow up carefully. Although the logistics situation has improved in the first ten days of May, on the whole, the pressure of supply-demand imbalance in Jinzhou market is still large.
Aftermarket forecast
In general, the cost side of nylon still supports the high level of the market, the supply of goods is sufficient, and there is no too much positive feedback on the demand side. The analysts of the business agency expect that the nylon filament market will continue to be strong and weak in the short term, and the overall market will tend to be high.
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