PA66 offers firm in early September under high cost pressure

Price trend

According to the data of the bulk list of the business community, the domestic PA66 market at the beginning of September is running at a high level, and the spot prices of various brands are offering prices. As of September 3, the factory price offer of the sample enterprises in the PA66 sticky injection molding grade in the business community was on average about 40350 yuan/ton, with a weekly increase of 0.62%, and a 109.07% increase over the same period last year.

Cause analysis

Industrial chain: upstream, the current domestic adipic acid price market continues to decline. Although the raw material pure benzene has improved, the current market is still relatively weak, and the pressure of early cost is still low. At the same time, adipic acid plant equipment is generally normal, maintain a high level of operating rate. The opposite of sufficient supply is that market demand is still weak, the speed of enterprises to move goods has declined significantly, and dealers are mainly interested in shipping profits. Adiponitrile shortage contradiction broke out at the end of last month, due to the high degree of dependence on imports, international large factories claimed force majeure loss of production capacity in the medium and long term, adiponitrile one cargo is difficult to find, and even forced domestic and foreign PA66 device load decline.

In terms of raw materials, adipic acid fell weak, adipic dinitrile shortage remained high, and the main support at the cost end of PA66 came from adipic dinitrile. The operating rate of the industry was affected by the shortage of adiponitrile, and the overall polymerization enterprises were forced to reduce the negative, and some of the polymerization plants with increased early load had to reduce the negative again. Port cargo supply is also insufficient, the recent arrival of less major ports, domestic cargo supply gap is difficult to fill with imports in the short term. The demand of terminal enterprises has still not seen the force, the stock follow-up is slow, and only a small amount of catch-up trading. Sellers play an increasingly dominant role in the market. Merchants with low stock try to make high offers.

Future market forecast

Business analysts believe: this week PA66 spot prices high firm. The shortage of adiponitrile supply at the cost side is prominent, the polymerization plant is passive negative due to the lack of raw materials, and the spot price is affected by the cost pressure. Demand follow-up is little changed, buyers on the rapidly rising PA66 supply feedback is not strong, wait-and-see atmosphere is heavy. The traditional demand season is just around the corner, and the current PA66 price range is high with such a high cost pressure, the market is difficult to say healthy. It is expected that the favorable effect of PA66 peak season demand volume may be reduced by the resistance of downstream users to high-priced supplies.