Price trend

According to the bulk list data of business society, the domestic PA66 market fell weakly in April, and the spot prices of various brands fell significantly. As of April 27, the average ex factory price of PA66 adhesive injection molding sample enterprises of business society was about 26750 yuan / ton, with an increase or decrease of – 13.71% compared with the average price at the beginning of the month.

Cause analysis

Industrial chain: upstream, the price of domestic adipic acid gradually fell in April, and the market stopped falling and stabilized at the end of the month. In the middle of the month, the prices of pure benzene and cyclohexanone fell, the supply of adipic acid increased, while the terminal demand was still cautious and the transaction was not ideal, resulting in the continuous weak operation of adipic acid. The domestic supply of adiponitrile is abundant, the level of port arrival is general, and the overall support effect on PA66 spot is limited.

The upstream raw material adipic acid has a poor market, the market supply of adiponitrile is abundant, and the cost side support of PA66 is general. At present, there are limited changes in the operating rate of the industry, and the load level of domestic PA66 enterprises is generally in high dynamic balance. There is a lot of spot supply on the site, which has a certain suppression on the profits of PA66 enterprises. In terms of port, the inventory position is acceptable, and the arrival volume of overseas goods is general. In terms of demand, at present, terminal enterprises take goods to follow up, prefer to just need to maintain production, and have strong resistance to high price goods. In addition, at present, the impact of domestic health events on East China has not ended, and logistics in many places have been affected to varying degrees. The demand of some downstream factories in China has shrunk, the contradiction between supply and demand has become more and more serious, and merchants have great shipping resistance. On site transactions declined, the seller’s mentality was poor, and the operation continued to reduce prices and take orders.

Future forecast

Business analysts believe that the spot price of PA66 continued to decline weakly in April. The market of adiponitrile on the raw material side was weak, the market of adipic acid also fell, and the cost side support of PA66 was poor. The load of PA66 enterprise is high, the on-site supply is sufficient, and the inventory pressure of enterprises and midstream increases. The demand side has a deep resistance to the supply of high price goods, and the market trading continues to be sluggish. It is expected that PA66 may maintain a weak market due to the contradiction between supply and demand in the short term.