Price Trend

According to the data of the business associations’list, the domestic PA66 market continued to be weak in late September and the price weakened. As of September 27, the average offer price of PA66 medium viscosity injection molding grade mainstream was about 23250.00 yuan / ton, basically maintaining the level of last weekend.

Analysis of influencing factors:

The market of adipic acid in upstream PA66 has been adjusted mainly after a slight recovery in recent years. The adipic acid market has entered a stage bottom. The bottom-finding process has basically come to an end, and the market has stabilized, but the increase is very limited. And the market climate is still slightly rigid, distributors are mainly active in delivering goods, the market has some room for concessions, and there is still no centralized purchasing behavior. The main reason why adipic acid prices stopped falling and recovered steadily was that the cost side boosted the price of upstream pure benzene, which had risen by more than 15% since mid-August, according to business associations. On the supply side, the market supply is still abundant, and many distributors say that the inventory pressure is high, the plant start-up rate is high, and the market inventory and manufacturer inventory have increased. In terms of demand, downstream demand is relatively weak. The traditional “Golden Nine” market has not arrived as scheduled this year. The downstream start-up rate is still slightly insufficient. The downstream general depression is the main reason why adipic acid is difficult to get rid of the weak market. Adipic acid market may continue to maintain a narrow adjustment pattern in the short term. Spot supply in domestic PA66 market is abundant in late September. Recent news points to the expectation of further increase in supply, which is not conducive to easing the contradiction between supply and demand. Downstream factories just need to take delivery, demand has not improved and continued to weaken. The market buys gas insufficiently, the trader wait-and-see mentality is heavy. Businessmen have reduced their public quotations and made it difficult to deal with them in detail. The overall market trend is weak, and domestic PA66 is still weak and persistent in late September.

Future forecast:

Business analysts believe that: late September domestic PA66 market weakness adjustment. Upstream adipic acid transverse plate adjustment has limited cost support for PA66. At present, the supply is abundant, and the contradiction between supply and demand is still the main contradiction in the domestic PA66 market. The enthusiasm of downstream reserve is not high, and the strategy of just taking goods is adopted. The market is short of gas, the traders are passive and wait-and-see, and the open quotation of the merchants is reduced. It is expected that PA66 will continue its disadvantaged consolidation in the near future.