Price trend

According to the data of the trade agency’s bulk list, the domestic PA66 market was at a low level this week, and the spot prices of various brands were up and down. As of August 5, the average ex factory price of PA66 medium viscosity injection molding grade sample enterprises of business agency was about 20750 yuan / ton, with an increase or decrease of 0% compared with the average price at the beginning of the month.

Cause analysis

Industrial chain: on the upstream side, the domestic adipic acid price continued to decline this week. The upstream pure benzene is weakened by the weakness of international crude oil, and the cost side is still negative. At present, the inventory pressure is high, and the price reduction of the manufacturer’s inventory has suppressed the market mentality, and the market demand is weak. On the news side, at the end of July, Tianchen Tianchen Qixiang adiponitrile production line was opened, and the pattern of domestic adiponitrile gradually replacing imports has begun.

The market of adipic acid, the upstream raw material, is still weak, and there is bad news on adiponitrile. The international crude oil market is weak, which is bad for the petrochemical industry chain, and the cost side support of PA66 is weak. In terms of industrial operating rate, the load level of domestic PA66 industry continued to drop in the early period due to the continuous pressure on the profits of PA66 enterprises. The spot supply in the market is abundant, and the supply pressure is difficult to solve. The inventory position of the port is acceptable, and the arrival volume of overseas goods is general. On the demand side, the current end-user enterprises tend to follow up with goods to maintain production, and have strong resistance to high price goods. In the traditional off-season, the demand of downstream factories is shrinking, the contradiction between supply and demand is prominent, and the shipping resistance of merchants is large. The on-site transaction is light and the seller’s mentality is not good, but the margin of profit is close to the cost price.

Future forecast

Business analysts believe that in early August, the spot price of PA66 was at a low level. The raw material side adiponitrile market is weak, and the cost side support of PA66 is weakened. The load of PA66 enterprises is horizontal, the contradiction between supply and demand in the market is deep, the demand side is short of goods, and the trading volume is low. It is expected that PA66 will continue to be affected by the contradiction between supply and demand in the short term and continue to consolidate the weak market.