Price trend
| Melamine |
The domestic PA66 market has shown an upward trend this week. According to data monitoring from Business Society, on January 26th, the domestic benchmark price of PA66 mixture was 20666.67 yuan/ton, with a price increase or decrease of+0.65% compared to the beginning of the month.
Cause analysis
This week, the PA66 market turned sideways, with low production line operating rates. The overall industry load was around 61%, unchanged from last week. The supply of goods in the market was tight during the week, and the inventory position was average. The pricing operation of enterprises was increased, and the support from suppliers was still sufficient. Downstream textile, electrical, and modification enterprises mainly maintain production as their main source of goods, with pre holiday stocking centered around weak and rigid demand, and weak support for spot goods on the demand side. On the upstream side, the price of hexamethylene diamine has been consolidating and running, but the news of international major factories raising prices in the future has been implemented, boosting market confidence. The market price of adipic acid has risen with the rise of upstream pure benzene, providing stronger support for PA66. Overall, the support from the cost side for the PA66 market is relatively strong. At present, the market supply and demand are weak, and the price of PA66 is mainly guided by the cost side.
Future Market Forecast
The spot price of PA66 rose over the weekend after a sideways trend this week. The prices of raw materials have both increased, providing stronger support for the cost of PA66. PA66 enterprise has a low level of horizontal load, and the inventory position is still acceptable. The demand side still focuses on maintaining production and has poor feedback on high priced sources of goods. It is expected that the weak supply-demand pattern before the holiday will be difficult to change, and the main positive news for PA66 in the future will still come from the cost side, which may continue to be strong.
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