Market trend
In the past week (April 8-14), the PA6 market experienced a trend of first rising and then falling. The benchmark price of Shengyi reached its peak of 14600 yuan/ton for the year on April 13th (up 3.55% from the beginning of the month), but then quickly fell back. As of April 14th, it closed at 14133.33 yuan/ton, down 3.20% from the previous day, giving up most of the gains.
influencing factors
Cost aspect
In the first half of the week, the core raw material of PA6, caprolactam, maintained a tight pattern. On April 7th, Sinopec’s weekly closing price of caprolactam was significantly increased by 1120 yuan/ton to 14030 yuan/ton, an increase of about 8.7%, directly pushing up the production cost of PA6, and the market has a strong bullish sentiment. However, cost support loosened in the second half of the week. On April 13th, Sinopec announced that the latest weekly closing price of caprolactam had dropped to 13800 yuan/ton, a decrease of 230 yuan/ton from the previous period, directly weakening the cost support of PA6 and cooling down the market’s bullish expectations.
Supply and demand side
The supply side is showing a clear trend of looseness, resulting in significant price suppression. The overall supply remains loose. It is worth noting that multiple companies have clearly marked “actual order negotiation” in their quotations, and there is room for downward negotiation in the actual transaction price, reflecting the strong willingness of the supply side to ship and the lack of sustained upward movement in prices.
The overall demand side is weak. Although the downstream terminal textile and chemical fiber industry has resumed work, its acceptance of high priced raw materials is limited. Procurement is mainly based on “replenishment of essential needs and procurement as needed”, and there has been no centralized hoarding. The trading atmosphere is cautious. According to the 2025 annual report and 2026 first quarter report of Jujishun, the industry is deeply mired in oversupply caused by concentrated capacity release, weak downstream demand, and the entire industry is generally in a state of loss.
Market forecast:
In the short term, it is expected that PA6 will maintain a weak oscillation and a downward shift in focus in the future. On the cost side, the price of Sinopec caprolactam has been lowered, and the high operating rate in the industry continues to suppress prices. If there is no new price increase catalyst on the raw material side, cost support will further weaken. Before there is a significant rebound in terminal orders on the demand side, downstream willingness to replenish inventory is unlikely to significantly increase, and trading is likely to remain sluggish.
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