Chinese PA66 Price Trajectory Stays Unyielding; Performance Stays Balanced
As per the latest analysis, Chinese PA 66 market has not been making any significant changes in its price trajectory, signifying a sideways trajectory. As on August 14, Chinese PA66 prices were recorded at 18,333.33 RMB/ton, a slight increase of 0.73 percent compared to August 1, 2023.
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Currently, spot prices across various brands are primarily organized and stable. On the supply side, domestic PA66 production is consistently operating at around a 65% load, showing languorous change from last week. Production lines within enterprises have seen limited alterations, and there remains a relatively sufficient supply of goods on-site. However, support from the supply side for spot goods is moderate, reflecting a situation of poor inventory digestion.
Terminal enterprises, or end users of PA66, are showing low enthusiasm for stockpiling the product, likely due to weak demand. This, coupled with the suppliers' cautious pricing strategies, contributes to the ongoing sideways trend. On the upstream side, the domestic market for hexamethylene diamine, a key raw material for PA66, is relatively weak. As for the adipic acid market, another essential raw material, prices have stabilized following a previous rise, with raw materials like pure benzene and cyclohexanone exhibiting a strong trend.
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Despite strong indications from the cost side promoting PA66 spot prices, demand remains weak. Terminal enterprises are primarily relying on available goods to sustain production, and buyers are generally resistant to higher-priced sources of PA66. Given these factors, it is anticipated that PA66 will continue its weak, sideways consolidation in the short term, suggesting that significant price changes are not expected in the near future.
According to Procurement Resource, the Chinese PA66 price trends remained sessile amid abated demand from the downstream and upstream industries, cautious pricing by suppliers, and hindered buyers’ sentiments (evading highly priced PA66). The price trajectory for Chinese PA66 is anticipated to stay sideways in the upcoming months.
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