Demand continues to be weak, PA66 market is weak and volatile

Price trend

 

According to the bulk list data of business society, the domestic PA66 market was weak in early January, and the spot prices of various brands fell. As of January 13, the ex factory price of PA66 adhesive injection molding sample enterprises of business society was about 36250 yuan / ton, with an increase or decrease of – 0.68% compared with the average price at the beginning of the month.

 

Cause analysis

 

Thiourea

Industrial chain: in the upstream, the price of adipic acid in China is relatively strong, mainly finishing, the price of raw material pure benzene is strong, and the cost side is slightly improved. However, large early maintenance plants have returned to work one after another, and the market supply is still abundant. The inventory of manufacturers and dealers increased, mainly making profit and shipping due to inventory pressure, and the downstream demand maintained rigid demand. Adiponitrile has not improved much. The loss of production capacity of large international factories and the shortage of overseas transportation capacity are still affecting the market, and the supply shortage has not improved. Due to the high dependence on imports of adiponitrile, the production load of domestic PA66 enterprises is restricted by adiponitrile.

 

The upstream raw material adipic acid is rising steadily, the change of adiponitrile is limited, and the cost side support of PA66 is acceptable. At present, the operating rate of the industry has recovered compared with that in the early stage, but the tight demand pattern of adiponitrile remains, and the operating rate of domestic PA66 industry is not high. The inventory in each port is insufficient. Affected by international health events, the overseas systematic transportation capacity is insufficient, and the domestic goods are in a long-term shortage situation. In terms of demand, buyers follow up slowly with goods, and there is great resistance to the transaction of high price goods. In addition, enterprises have holidays before the festival, the demand is gradually weakened, the seller’s mentality is loose, and the offer is weak.

 

Future forecast

 

Business analysts believe that the spot price of PA66 was weak in early January. The shortage of adiponitrile at the raw material end has not been improved, and the adipic acid market is strong. The low load of PA66 enterprise due to material shortage has increased compared with that in the early stage, and the supply side’s support for spot goods is acceptable. However, downstream users have a deep resistance to high price sources, and the trading atmosphere on the floor is poor. The downstream user’s goods preparation tide is in the late stage, and it is expected that PA66 may continue to adjust and operate in a weak position in the near future.

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