In February, the overall price of domestic engineering plastics fell more or less. According to the data monitored by the Business News Agency, by the end of February, the decline of various engineering plastic varieties compared with the beginning of the month was from high to low, PC-5.64%, PA66-2.33%, PA6-1.40%, PET-0.87%, POM+2.38%, respectively.
Commodity/ Price at the beginning of February/ The price at the end of February/ Unit/ Monthly rise and fall
PC./17450.00./16466.67./yuan/ton./-5.64
PA66./21500.00./21000.00./yuan/ton./-2.33%
PA6./14333.33./14133.33./yuan/ton./- 1.4%
PET./ 7546.00./7480.00./yuan/ton./-0.87%
POM ./ 14000.00./14333.33./yuan/ton./+2.38%
In February, the supply and demand of the industry should have increased significantly during the period when the industry resumed work and market participants returned to cash. But at the end of the month, the overall momentum of the market was low. Macroscopically, the economic data of January was mixed, and the profitability of engineering plastics manufacturing enterprises was still challenged, and the improvement of operating risks of factories at all levels was limited. Combined with the fluctuation of international oil price at the beginning of the month, the common remote cost of the plastic industry weakened. The market situation of engineering plastics industry in February tends to be negative due to the lag of downstream enterprises in taking goods.
PC
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The domestic PC market fell in February. The upstream bisphenol A market is also difficult to say positive, and the price fell after a narrow range of consolidation. Although raw materials such as pure benzene rose this month and bisphenol A rose with raw materials, the low demand of bisphenol A made it difficult to improve the low volatility of the market. The overall support effect on PC spot price is poor. In terms of industry load, the utilization rate of PC capacity increased to more than 70%, the highest in recent years, and the pressure on the supply side was high. The demand is relatively weak, the operators have a wait-and-see attitude, and the operation is cautious. The actual orders are mainly scattered small orders, and the downstream enterprises are relatively lagged behind in stock, and the traders are mostly engaged in profit-sharing sales. On the whole, the contradiction between PC supply and demand was deepened in February. It is expected that PC supply pressure will not change in the short term, or it will continue to operate in a weak way.
PA66
In February, the market of PA66 was poor, and the spot price was stagnant after falling. In terms of supply, the overall monthly load of domestic PA66 industry is more than 65%. Enterprise operations continue to be biased towards destocking, with general inventory pressure and abundant supply of goods on the site. In the upstream, the operating rate of adipic acid raw material increased within the month, and the expected increase in supply in the later period was negative for the market. The supply of hexamethylene diamine is also expected to increase, and the support of PA66 raw material end to the spot is weakened. In terms of demand, the situation is weak and difficult to change. The terminal enterprises just need to follow up with the maintenance of goods. Buyers generally have strong resistance to high-priced supply. It is expected that PA66 will continue its weak consolidation market in the short term.
PA6
The domestic PA6 market fell after rising in February. The market price of caprolactam, the upstream product, fell sharply, and the price of pure benzene, the raw material, fell first and then rose. The cost support was acceptable. The spot supply of caprolactam market is stable, and the downstream low-price procurement is the main factor, which weakens the support for PA6 cost. PA6′s operating rate in February fluctuated between 66% and 70%, with stable output and abundant supply of goods. Downstream, terminal replenishment demand is weak, intra-field trading is weak, overall demand for PA6 chips is poor, and intra-field spot competition is strong. It is expected that the PA6 market will continue to consolidate in the short term.
PET
This month, the bottle-grade PET market was stable and slightly volatile, and the market was operating in a narrow range. At the end of the month, the price of the business club was 7480.00 yuan/ton, down 0.87% from the beginning of the month. At present, the overall supply and demand of the market is balanced. The cost support is not strong, and the manufacturer is active in shipping. Downstream enterprises purchase as required, and near the end of the month, the focus of on-site trading and investment negotiation is weak. In the near future, both domestic consumption and export orders have an upward trend. It is expected that the PET market will turn to a stronger market at the beginning of March.
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POM
The domestic POM market was positive this month, with the market price rising. In terms of supply of goods, the load of POM enterprises was adjusted in a narrow range at the high level within the month, and the load at the end of the month was about 96%, but the inventory position of enterprises was low, and the supply pressure was acceptable. The manufacturer’s inventory of crows and the ex-factory price have been rising. Under its guidance, the traders’ mentality has been supported to some extent. In terms of demand, terminal enterprises purchase on demand. Near the end of the month, the stock operation is gradually cautious. The actual orders of traders are mostly for negotiation, and the actual transaction has slowed down. The POM market is relatively balanced in the near future, and it is expected that the market will be stable in the short term.
Aftermarket forecast
In February, the market of engineering plastics generally weakened, and most of the products had supply and demand contradictions in varying degrees. The polymerization enterprise reduced the ex-factory price in order to get rid of the stock. The terminal manufacturer has a pre-year raw material inventory waiting to be digested. It will take time for the market supply and demand to go through a phased contradiction. At the same time, the macro pattern of economic recovery at the beginning of this year did not significantly help the engineering plastics industry. In the short term, it is difficult to improve the market supply and demand. It is expected that the engineering plastics market will continue its current weak overall operation at the beginning of March.
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