1、 Price trend:
According to the bulk list data of business cooperatives, the domestic market of PA6 was weak in the middle of October, and the spot prices of various brands were reduced by a narrow margin. As of October 22, the mainstream offer price of the sample enterprise for China Adhesive 2.75-2.85 was about 14200 yuan/ton, up and down by+1.43% compared with the average price at the beginning of the month.
2、 Analysis of influencing factors:
Industrial chain: in the upstream, the caprolactam market has fallen recently, the raw material pure benzene has fallen due to the decline of international crude oil, and the cost support of caprolactam has weakened. At present, the caprolactam industry has a high load position, with a narrow increase this week, and there is a certain supply pressure. Downstream enterprises purchase caprolactam on demand, and buyers are limited in their acceptance of high priced goods, so they often purchase at low prices. It is expected that the caprolactam market will be dominated by weak operation in the short term.
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Upstream caprolactam market fell, and PA6 cost end support weakened. The operating rate of domestic PA6 polymerization plants decreased slightly this week, and the overall industrial load remained stable at 70%. The supply side of PA6 is abundant, and the profit of aggregation enterprises is poor. The effect of the traditional peak season of “Yinshi” is limited. There are many goods on the market, and the slice competition is strong. The high price goods are generally sold poorly, and the market atmosphere is gradually weakening. The operating rate of terminal enterprises was high and increased by a narrow margin. They digested the inventory stack in the early stage and paid more attention to buying and waiting. The superposition of the news that the new PA6 unit was put into production further exerted pressure on the supply side, and the speed of goods moving in the field decreased, resulting in an increase in inventory. At present, the operators are bearish about the future market, and the traders are willing to make concessions to the market.
3、 Future market forecast:
Analysts from the business community believed that the spot price of PA6 was weak this week, the price of caprolactam fell, the cost support of PA6 weakened, and the far upstream was also weak. On the demand side, it ran smoothly, but the industry was worried that PA6 capacity expansion continued to put pressure on the market, and the wait-and-see atmosphere was heavy. It is expected that the market of PA6 will be weak in the short term.
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