Last week (November 18-24, 2024), the price of upstream raw material caprolactam slightly increased, with a slight increase in cost support. However, downstream procurement enthusiasm was not high, and multiple parties followed up on demand. The trading atmosphere in the market was poor, and inventory levels were at a high level. The market lacked positive news support, and the industry had a strong wait-and-see atmosphere. The nylon filament market price remained stable.
According to the Commodity Market Analysis System of Shengyi Society, last week (November 18-24, 2024), the market price of nylon filament continued to remain weak and stable. As of November 24, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 17240 yuan/ton, which is the same as last week’s price; Nylon POY (premium product; 86D/24F) is priced at 14650 yuan/ton, which is the same as last week’s price. The price of nylon FDY (premium: 40D/12F) is reported at 18150 yuan/ton, which is the same as last week’s price.
Raw material prices have slightly increased but remain low
Last week (November 18-24, 2024), there was high inventory pressure on the nylon filament raw material caprolactam, and the supply side was still under pressure. Spot prices slightly increased, but prices remained low. The market price of nylon PA6 chips has fallen below the low level in recent years. Although the trend has rebounded after a decline, the market supply is still abundant, and the growth rate of downstream demand is slow. The market for nylon PA6 chips lacks upward momentum, and prices are operating at a low level. The industry chain is mostly pessimistic. As of November 24th, the benchmark price of caprolactam in Shengyi Society is 10826 yuan/ton, which is at a low level.
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 rigid demand orders from multiple sources, with only a few DTY models showing slightly better demand. It is difficult to find positive support from the demand side in the short term.
Future forecast
The spot market for raw material caprolactam may be slightly stronger, with a slight increase. The nylon PA6 chip market has bottomed out and rebounded, but the market is still mainly weak, with slightly improved cost support. The supply in the market is at a high level, and downstream market demand is difficult to improve. Negative factors still exist in the market. With the exchange of news in the market, analysts from Shengyi Society predict that the short-term nylon filament market will mainly fluctuate and consolidate, and prices may rebound slightly.
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