Insufficient demand follow-up in off-season, PA66 market is light

Price trend

According to the bulk list data of business society, the recent domestic PA66 market is weak, and the spot prices of various brands have weakened in a narrow range. As of July 23, the average offer price of PA66 adhesive injection molding sample enterprises of business society was about 38250 yuan / ton, a decrease of 0.78% compared with the average price at the beginning of the month and a weekly decrease of 0.65%; There was a year-on-year increase of 102.92%.

Cause analysis

The upstream adipic acid market strengthened significantly in early July. Although it fell slightly recently, the price is still above the 10000 yuan mark. Previously, pure benzene, the raw material of Lido adipate, has declined recently. Although the supply of pure benzene in the spot market is still tight, the downstream products are at a loss and the load of some units is reduced. The demand for pure benzene decreased, with great downward pressure, and adipic acid followed the decline of upstream pure benzene. In terms of supply, the change of adipic acid operation level is limited, the manufacturer’s inventory pressure is general, and some enterprises return to work after maintenance, diverting the supply pressure. In the early stage, the manufacturers concentrated on raising the listing price. At present, the market offer maintains the price range after the rise, and some dealers have no goods in their hands. There are signs of empty rise and virtual high price. However, at present, it has gradually entered the off-season, the shipment fluency has gradually decreased, and the market response has gradually been light. At present, there has been some resistance to the spot price, and it is expected that the market will weaken in a narrow range in the near future.

The height and narrow range of raw adipic acid are adjusted, and the cost side support of PA66 is acceptable. Recent market shows that PA66 price has no feedback on upstream support, and the market is still in the off-season. Generally, the pattern of weak supply and demand remains unchanged. In terms of operating rate, the overall load level of domestic PA66 enterprises is not high, and there has been no news of resumption of work since July. The demand follow-up of terminal enterprises is slow, buyers have a heavy wait-and-see mentality, and the on-site delivery orders are small. The merchant’s offer operation is biased towards flexible shipment and drags the price focus. Recently, the market momentum has not improved, and the light state continues.

Future forecast

Business analysts believe that the domestic PA66 market has weakened narrowly recently, and the feedback on the cost side support of adipic acid is poor. In the case of poor profit of end users and insufficient follow-up of stock demand, the upstream benefit was not reflected in the spot price of PA66. The current market is still relatively prominent in the off-season, with weak supply and demand. At present, the market lacks trading power and the market atmosphere is weak. It is expected that the PA66 market will be weak in the short term.