This week (December 23-27, 2024), the inventory pressure of upstream raw material caprolactam led to a price decline, and the demand side did not follow up well. The nylon filament market continued to be weak, and negative factors dominated the market. Nylon filament prices followed the decline of raw materials and hit a new low for the year.
According to the Commodity Market Analysis System of Shengyi Society, this week (December 23-27, 2024), the market price of nylon filament followed the decline of raw materials. As of December 27, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region was quoted at 17080 yuan/ton, a decrease of 280 yuan/ton from last week, with a weekly decrease of 1.61%; Nylon POY (premium product; 86D/24F) is priced at 14650 yuan/ton, a decrease of 200 yuan/ton or 1.35% compared to last week. The price of nylon FDY (premium product: 40D/12F) is reported at 17925 yuan/ton, a decrease of 250 yuan/ton from last week, with a weekly decline of 1.38%.
Raw materials continue to decline
This week (December 23-27, 2024), the upstream raw material caprolactam plant for nylon filament was operating normally, with sustained high inventory and low downstream purchasing willingness. The trading atmosphere was calm, and the caprolactam market price continued to decline. Lack of confidence in the industrial chain, shrinking actual trading volume in the nylon PA6 chip market, with no positive support from both upstream and downstream, and insufficient confidence among industry players. As of December 27th, the benchmark price of caprolactam in Shengyi Society was 10937 yuan/ton, with a weekly decline of 1.91%.
Supply demand
The operating rate of nylon filament market equipment is relatively high, currently operating at around 8.4%. The inventory of various manufacturers continues to accumulate, and the overall supply performance on site is loose, with average supply side support; There is still no significant improvement in demand in the terminal market, and downstream yarn factories have a certain degree of risk aversion. They hold onto multiple essential orders, and it is difficult to find positive support from the demand side during the week.
Future forecast
The market for nylon filament raw material caprolactam is expected to continue its downward trend, with high inventory pressure and continued pressure on the supply side. Spot prices are weakly stable and consolidating, and market sentiment is bearish. The industry chain is mostly pessimistic, and terminal market demand remains weak. Negative factors in the market dominate, and analysts from Shengyi Society predict that the short-term nylon filament market will mainly consolidate and operate weakly.
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