SunSirs: Cost Support Continues, with China PA66 Rising at a High Level

Recently, the domestic PA66 market has seen a high rise. According to data monitoring from SunSirs, on March 22nd, the domestic PA66 mixed benchmark price was 22,900.00 RMB/ton, with a price increase or decrease of +1.03% compared to the beginning of the month.

Adipic acid: Due to the high price of adipic acid in the early stage and the recent poor downstream follow-up, adipic acid's performance continued to be weak this week. The price of raw material pure benzene has fluctuated and consolidated, with no positive release from the supply side, continuing the accumulation pattern. Subsequently, the offer continues to loosen in order to ship, weakening support for PA66.

Hexanediamine: Last week, the market for hexanediamine had limited changes, and the market was still affected by the previous news of international large factories raising prices, resulting in high prices. The improvement of the tight supply pattern in the superimposed market is limited, and it is expected to maintain a high point in the short term; Overall, the cost of two materials, one strong and one weak, provides sufficient support for the PA66 market.

Supply side: Last week, the operating rate of the domestic PA66 production line remained low and adjusted. The overall industry load has remained relatively stable compared to the previous period, with an average of over 62%. At present, the production of enterprises is stable and there is no accumulation of inventory. The price adjustment operation is clear, and the supplier's support is still sufficient.

In terms of demand: Last week, textile, electrical, and modification enterprises followed a routine in stocking and consumption, while most of the procurement operations were focused on production. The main force of on-site trading is supported by the follow-up of demand, and the buyer camp has slight resistance to high priced goods. Traders have strong confidence in stabilizing prices and are actively engaged in price fixing operations. The demand side has average support for PA66.

In the near future, the spot price of PA66 will remain stable with an increase. The prices of raw materials continue to be strong, which provides sufficient support for the cost of PA66. The PA66 enterprise has a low level of horizontal load, and the inventory position is also low. The demand changes of terminal enterprises are limited. It is expected that the market will continue to operate steadily in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.