Weak terminal demand and weak operation of PA66

Price trend

According to the bulk list data of business society, the domestic PA66 market trend fell this week, and the spot prices of some brands decreased. As of March 25, the average ex factory price of PA66 adhesive injection molding sample enterprises of business society was about 31250 yuan / ton, with an increase or decrease of – 8.09% compared with the average price at the beginning of the month.

Cause analysis

Industrial chain: in the upstream, the adipic acid market this week continued the decline of last week. While the supply side was relatively abundant, the terminal demand was still cautious and the transaction was not ideal, so it was difficult to support the adipic acid price to maintain a high point. The operating rate remains at a high level of 75%, and the reservoir pressure is obvious at present. The change of adiponitrile market is limited, but the start-up of adiponitrile domestic production line is approaching, there is bad news on the spot price in the short term, the level of port arrival is general, and the overall support effect on PA66 spot is limited.

The price of upstream raw material adipic acid is weak, the change of adiponitrile market is limited, and the cost side support of PA66 is poor. At present, the operating rate of the industry has little change from the previous period, and the load level of domestic PA66 enterprises is at a high level. The inventory position of the port is not high, 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, the health incident affected domestic logistics and the production of individual downstream factories, the shipment fluency of merchants was poor, the transaction resistance in the venue increased, and the mentality of sellers was affected. The range of offer negotiation this week is still large.

Future forecast

Business analysts believe that the spot price of PA66 is weak this week. The improvement of adiponitrile market on the raw material side is limited, adipic acid Market weakens, and PA66 cost side support weakens. On the supply side, PA66 enterprises have high load and high inventory pressure in enterprises and midstream. The demand side has a deep resistance to the supply of high price goods, the on-site trading continues to be sluggish, and the market momentum is insufficient. It is expected that PA66 may maintain a weak market in the short term.