In November 2024, the weekly closing price of Sinopec’s high-end caprolactam, an upstream raw material for nylon filament, saw a narrow increase, with little support from the cost side; During the month, some nylon filament manufacturers have lowered their equipment load due to increased inventory levels, while new production can continue to be released. However, the increase in on-site supply is limited, and the overall market supply has decreased, but inventory levels have increased and supply side support is average; The demand performance in the textile terminal market is weak, downstream manufacturers’ shipments are not ideal, finished product inventory is high, and it is difficult to improve the enthusiasm for raw material procurement. Multi dimensional support for rigid demand follow-up has not improved on the demand side. Overall, the upstream raw material market price of nylon filament has slightly increased, with an increase in on-site inventory. Downstream manufacturers have shown low purchasing enthusiasm, and the nylon filament market is operating weakly and steadily, with prices fluctuating slightly.
According to the Commodity Market Analysis System of Shengyi Society, in November 2024, the market price of nylon filament remained stable with small fluctuations, and the price fluctuated. As of November 29, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 17300 yuan/ton, an increase of 60 yuan/ton from the beginning of the month, with a monthly increase of 0.35%; Nylon POY (premium product; 86D/24F) is priced at 14700 yuan/ton, a decrease of 50 yuan/ton or 0.34% from the beginning of the month. The price of nylon FDY (premium: 40D/12F) is quoted at 18200 yuan/ton, which is the same as the price at the beginning of the month.
Supply demand: In November, the overall supply of nylon filament market decreased. During the month, the newly added production capacity in the nylon fiber market was released, and some manufacturers’ equipment was operating at a reduced load, resulting in a narrow decrease in on-site supply. However, downstream markets held onto rigid demand orders, but inventory levels increased.
In terms of cost: During the month, the weekly settlement price of Sinopec’s high-end caprolactam continued to rise, but the market for high-speed spinning of nylon PA6 chips lacked upward momentum, and the market price trend of raw materials was inconsistent, with limited support on the cost side.
2、 Future forecast
There is an upward expectation in the market prices of raw material caprolactam and PA6 slices, and the cost support is improving; The on-site supply may not fluctuate significantly, and December will enter the traditional off-season for demand. Downstream yarn factories may still maintain their demand for essential goods, making it difficult for the demand side to show significant improvement. At the end of December, there is a possibility of early holiday in the downstream market, and the demand may decrease. Overall, analysts from Shengyi Society predict that the price of nylon filament market will rise narrowly, with an expected increase of 200-300 yuan/ton.
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