1、 Market Review
As of May 10th, the benchmark price of PA66 in Shengyi Society was 23000 yuan/ton, a decrease of 2.13% from the beginning of the month (23500 yuan/ton). The current price is in the mid to high range of the one-year statistical cycle, and the downward trend since late April has significantly slowed down this week, showing a stable trend amidst the decline.
2、 Cause analysis
On the cost side, the adipic acid market experienced a significant decline in April, with a drop of around 2000 yuan/ton at one point. But recently, the market has turned into a narrow range of fluctuations and weakened, and it is expected that the fluctuations in May will be limited. The adipic acid plant operates stably, and the overall market spot supply is sufficient, providing relatively mild cost support for PA66. However, its marginal weakening has partially weakened the previously strong cost driven upward logic.
On the supply side, there has been a slight adjustment in the spot supply of PA66 market recently, and some aggregation enterprises are facing cost pressure. The intention to raise prices and reduce production still exists.
On the demand side, the downstream maintains a rhythm of on-demand procurement, and the overall transaction atmosphere is flat. End customers have a clear resistance to high priced goods, and are cautious in following up on high priced orders, only maintaining rigid replenishment.
3、 Future forecast
Overall, the short-term price of PA66 will fluctuate slightly around the current high level, with a focus on changes in raw material prices and downstream demand recovery progress. If raw material prices fall or demand remains weak, there may be a slight price correction; If raw materials remain at a high level or demand unexpectedly recovers, prices are expected to rise slightly, with limited overall volatility, and the stalemate pattern is difficult to break significantly.
| http://www.pva-china.net |