Weak demand, lack of cost support, PA6 price decline expanded (3.16-3.26)

1、 Price trend:

According to the data of the bulk list of business agencies, the market of PA6 in China fell in the middle and last ten days of March, with a large price reduction. As of Thursday, March 26, the main offer price of Zhongzhu 2.75-2.85 was 10633.33 yuan / ton, 11.39% lower than the average price of the second weekend in March.

2、 Analysis of influencing factors:

In early March, the price of caprolactam upstream of PA6 fell due to negative external news from crude oil and chemical industry. By the end of last ten days, the decline of pure benzene was still in progress with a wide range. The upstream caprolactam enterprises of PA6 are under heavy pressure due to the sharp drop of cost end. The market holds wait-and-see mood more, the demand of downstream is weakened, and the merchants reduce the orders. It is predicted that the caprolactam market will be in a weak position in a short period of time; the price of caprolactam in the upper reaches will decline significantly, PA6 cost surface will collapse, and the cost end support will be hard to find. At present, the price of PA6 in China continues to weaken, and the inventory consumption of slicing enterprises is slow. The downstream return rate is not high, following the strategy of bargain hunting and appropriate replenishment. The business offers are flexible and the market atmosphere is negative. Another source said that the recent international health events caused difficulties in the supply of chemicals at home and abroad, and orders of plastic and chemical enterprises were cancelled. There are many difficulties in the industrial chain. It is expected that PA6 market will not improve in the short term.

3、 Future forecast:

Business analysts believe that: in the second week of March, the domestic PA6 market fell, and some spot prices fell significantly. The trend of upstream caprolactam is not good, and the support for PA6 cost end is weak. The resumption of downstream factories needs to be further improved and the demand remains low. In recent years, the domestic market atmosphere is cold, and the operators sell at a profit. It is expected that PA6 market will continue weak adjustment in the near future, so it is recommended to operate cautiously.