This week (December 2-6, 2024), the cost side trend is upward, and the nylon filament market is experiencing a narrow upward trend. The weekly settlement price of upstream raw material Sinopec’s high-end caprolactam has been raised, and the market for high-speed spinning of nylon PA6 slices has continued to rise during the week, with strong cost support. On site supply is relatively loose, downstream market orders are insufficient, and manufacturers tend to have a certain degree of risk aversion, maintaining essential procurement and mainly consuming raw material inventory. Good and negative factors coexist in the market, and the price of nylon filament is cautiously rising narrowly.
According to the Commodity Market Analysis System of Shengyi Society, the market price of nylon filament increased narrowly this week (December 2-6, 2024). As of December 6, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 17360 yuan/ton, an increase of 60 yuan/ton compared to last week, with a weekly increase of 0.35%; Nylon POY (premium product; 86D/24F) is priced at 14800 yuan/ton, an increase of 100 yuan/ton from last week, with a weekly increase of 0.68%. The price of nylon FDY (premium: 40D/12F) is quoted at 18200 yuan/ton, which is the same as last week’s price.
Cost trend is on the rise
On the raw material side, the weekly closing price of Sinopec’s high-end caprolactam has been raised to 11680 yuan/ton, and the market price trend of high-speed spinning nylon PA6 slices has been upward. The market price of raw materials has increased significantly during the week, with strong support from the cost side. As of December 6th, the benchmark price of caprolactam in Shengyi Society was 11216 yuan/ton, with a weekly increase of 2.11%.
Supply demand
Most of the devices in the nylon filament market are operating stably, and new production increases can be continuously released in the field. The industry supply still shows an increasing trend; The downstream market is facing a shortage of orders, and manufacturers tend to have a certain degree of risk aversion to maintain essential purchases. The enthusiasm for replenishment is not high, and the demand side is dragging down the trend of the nylon filament market.
Future forecast
The spot market for upstream raw material caprolactam and the market for nylon PA6 chips may continue to rise, but the fluctuations are not significant, and cost support still exists. The new production increase in the nylon filament industry can continue to be released, and the market supply may remain high, while on-site inventory may continue to increase. The downstream market may continue to follow up on demand, and the terminal market is in the traditional off-season of demand, with a gradually weakening trend in raw material demand. It is difficult for the demand side to have positive support. Overall, analysts from Shengyi Society predict that the nylon filament market price will slightly strengthen next week, with an expected increase of 100-200 yuan/ton.
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