Last week (February 17-23, 2025), cost support was relatively strong, and the price of nylon filament increased narrowly. The upstream raw material market is relatively strong, with cost support remaining, while the downstream market is still in the stage of resuming work. In addition, most manufacturers have already stocked up before the year, and currently, the consumption of raw material inventory is the main factor. The enthusiasm for raw material procurement is not high, and on-site actual transactions are limited, with weak support from the demand side. Many businesses adopt a cautious and wait-and-see attitude.
According to the Commodity Market Analysis System of Shengyi Society, the price of nylon filament increased narrowly last week (February 17-23, 2025). As of February 23, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 16800 yuan/ton, an increase of 140 yuan/ton, with a weekly increase of 0.84%; Nylon POY (premium product; 86D/24F) quoted 14425 yuan/ton, an increase of 150 yuan/ton, with a weekly increase of 1.05%; The price of nylon FDY (premium product: 40D/12F) is reported at 17425 yuan/ton, an increase of 125 yuan/ton, with a weekly increase of 0.72%.
Raw material caprolactam rises
In terms of cost: Last week (February 17-23, 2025), Sinopec raised the weekly settlement price of high-end caprolactam to 11660 yuan/ton, an increase of 210 yuan/ton from the previous week. The price trend of raw materials in the market has risen within the week, with strong support from the cost side.
Supply and demand: Nylon filament manufacturers have basically resumed production and work within the week, and the industry’s operating rate is gradually increasing. The on-site supply has significantly increased, and the performance of the supply side is still acceptable; The nylon filament market is operating at around 7.8% capacity. The downstream market has also basically resumed work and production. In addition, most manufacturers had already stocked up before the year, but currently the main consumption of raw material inventory is low enthusiasm for raw material procurement. The actual transactions on site are limited, and the support from the demand side is insufficient.
Future forecast
Cost aspect: In terms of caprolactam, the upstream pure benzene price is high, and there is little fluctuation in the on-site caprolactam equipment. The demand side mostly maintains on-demand procurement. It is expected that the market price of caprolactam will remain stable at a high level next week.
Supply and demand side: Most nylon filament manufacturers have resumed normal production, and the on-site supply will increase significantly. At the same time, the overall inventory level in the market may increase; Downstream manufacturers may gradually resume work, and each enterprise has a certain amount of raw material inventory. In addition, due to insufficient confidence in the future market and limited replenishment demand, it is expected that the driving force from the demand side of the nylon filament market will still be weak in the short term.
Overall, the spot market for raw material caprolactam and nylon PA6 chips remain stable, with decent cost support. Downstream enterprises mainly execute previous orders, and demand is unlikely to show significant improvement. Amidst mixed market news, analysts from Shengyi Society predict that the short-term nylon filament market will experience slight fluctuations and consolidation.
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