SunSirs: The Fundamental Performance is Balanced, China PA66 Market is Running Sideways

Recently, the domestic PA66 market has shown a stable trend. According to data monitoring from SunSirs, on January 19th, the domestic benchmark price of PA66 mixture was 20,500 RMB/ton, with a price increase or decrease of -0.16% compared to the beginning of the month.

Last week, the PA66 market remained stable with minor fluctuations, with production line operating rates hovering at a low level. The overall industry load was around 61%, unchanged from last week. During the week, the market supply of goods was tight, the inventory position was average, the pricing operation of enterprises was firm, and the support from suppliers was still sufficient. Downstream textile, electrical, and modification enterprises mainly maintain production as their main source of goods, with pre holiday stocking centered around weak and rigid demand, and weak support for spot goods on the demand side. On the upstream side, the price of hexamethylene diamine has been consolidating and running, with the main focus on early stage contracts and prices remaining stable. The market price of adipic acid has been boosted by upstream pure benzene, leading to a stronger support for PA66. Overall, the support from the cost side for the PA66 market is still acceptable. But currently, the market demand is weak, and the overall price of PA66 is sideways.

Last week, the spot price of PA66 remained stagnant. The price of raw materials increases and stabilizes, strengthening the support for the cost of PA66. PA66 enterprise has a low level of horizontal load, and the inventory position is still acceptable. The demand side still focuses on maintaining production while holding a resistant attitude towards high priced sources of goods. It is expected that the weak supply-demand pattern before the holiday will not change, and PA66 may continue to remain stagnant in the future market.

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