Price trend

According to the bulk list data of business society, the domestic PA66 market fluctuated and weakened in July, and the spot prices of various brands decreased by a narrow margin. As of July 31, the average offer price of PA66 adhesive injection molding sample enterprises of business society was about 38150 yuan / ton, a decrease of 1.04% compared with the average price at the beginning of the month and an increase of 102.93% over the same period last year.

Cause analysis

In terms of upstream adipic acid, the price of adipic acid rose sharply in early July due to the sharp rise in the price of raw material pure benzene. Superimposed on the impact of manufacturers’ centralized increase in the listing price at the beginning of the month, the increase in the second week alone reached 11%, the spot price broke through the 11000 yuan mark, and the monthly high appeared at 11160 yuan / ton on the 15th. By the middle of the year, the international crude oil went down to cool the heat of pure benzene and other products. Adipic acid fell upstream and the price center of gravity corrected. In terms of supply, the change of adipic acid start-up level in July is limited, the manufacturer’s inventory pressure is general, and some enterprises have not returned to work after maintenance, diverting the supply pressure. At the end of the month, the market offer price is still in the high range, but at present, it has gradually entered the off-season, and the shipment fluency has gradually decreased. In addition, the recent device restart is concentrated, and there may be an increase in supply in the future. It is expected that the recent market may be weak.

The raw material adipic acid rose sharply and fell in a narrow range, and the cost side support of PA66 strengthened significantly. However, in July, PA66 market was indifferent to the upstream support feedback, and the market basically maintained the medium and long-term pattern of weak supply and demand, with obvious market characteristics in the off-season. In terms of operating rate, the overall load level of domestic PA66 enterprises was not high this month, some units resumed work, and the supply picked up. In terms of demand, the terminal enterprises follow up slowly, the on-site trading orders are small, the market momentum is insufficient, and the buyers have a heavy wait-and-see mentality. Merchants tentatively hold firm in their offer, and there is profit making shipment in the actual order. Recently, the market momentum has not improved, and the light state continues.

Future forecast

Business analysts believe that the domestic PA66 market fluctuated and fell in July. At present, the cost side support of PA66 is strong, but the profits of PA66 itself and downstream users are poor, the demand follow-up is weak, and the cost side support has not been successfully transformed into a positive effect on the spot price. In the current off-season market with weak supply and demand, it aggravates the cost pressure of PA66. PA66 market is expected to be weak in the short term.