This week (September 16-20), the cost side support was weak, the demand side, and the traditional textile peak season in September did not meet expectations, resulting in a weak decline in the nylon market. Sinopec’s high-end caprolactam weekly closing price has been lowered, and the market trend of nylon PA6 chips is weak, with weak cost support. Downstream market demand is weak, and it is difficult to find favorable support from the demand side, resulting in poor trading activity within the market. The industry’s operating rate remains stable, with little change in on-site supply. The inventory levels of various manufacturers are average, and inventory pressure is not high. There is a lack of positive news to boost the market, and there is a strong wait-and-see atmosphere among industry players.

According to the Commodity Market Analysis System of Shengyi Society, the market price of nylon filament fell weakly this week (September 16-20). As of September 20, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region was quoted at 18360 yuan/ton, a decrease of 140 yuan/ton from last week, a weekly decrease of 0.76%. Nylon POY (premium product; 86D/24F) is priced at 15875 yuan/ton, a decrease of 175 yuan/ton from last week, with a weekly decline of 1.09%. The price of nylon FDY (premium: 40D/12F) is reported at 19450 yuan/ton, a decrease of 75 yuan/ton or 0.38% from last week’s price.

Raw materials remain weak and continue to decline

This week (September 16-20), in terms of nylon filament raw material caprolactam, the price of pure benzene fell sharply amidst the sharp drop in crude oil. Sinopec’s pure benzene listing was lowered by 300 yuan/ton to 8300 yuan/ton, which had a negative impact on costs. With the introduction of new production capacity, the supply of caprolactam has increased, and market confidence is bearish, resulting in a rapid decline in caprolactam prices. As of September 20th, the benchmark price of caprolactam in Shengyi Society was 12475 yuan/ton, a decrease of 2.16% from last week.

Supply demand

This week (September 16-20), the overall supply of nylon filament market remained stable. Most of the nylon filament market facilities are operating stably, and currently the daily production rate of the nylon filament market is around 8.4%. On the demand side, the traditional peak season for textile production in September did not meet expectations, and demand did not substantially improve. Coupled with weak costs, weaving manufacturers have mostly maintained stable production, and foreign trade brands have gradually issued their essential needs. However, the order volume is still mainly in a small quantity and multiple times mode, and there are still few bulk goods. Lack of market confidence.

Future forecast

Although entering the traditional peak season for textiles, downstream market demand will improve to some extent, but there is currently no obvious sign of improvement, and on-demand procurement is still the main focus; The cost side caprolactam market is mainly weak, and the cost side support for nylon filament is weak. Business analysts predict that the short-term nylon filament market will mainly consolidate and operate weakly, and prices will continue to decline narrowly.