Raw Materials Support Stronger Nylon Filament Prices Rise Again

According to the statistics of business associations, as of June 17th, the Jiangsu nylon filament DTY reported 15867 yuan / ton, compared with June 10th prices rose 67 yuan / ton, or 0.42%, down 11.36% compared to the same period last year; the price of nylon POY was 13520 yuan / ton, the price rose 40 yuan / ton, or 0.30%, down 14.43% compared with the same period last year, the price of nylon FDY was 16750 yuan / ton, and the price increased by 250 yuan / ton, or 1.52%, down from last year. 67%.

Crude oil, as of June 17th, WTI crude oil in June broke through 40 U.S. dollars / barrel, the highest increase of 11.58%. OPEC+ extended the production reduction agreement and also helped fuel oil market, resulting in soaring oil prices, and the market ignored the adverse factors that the epidemic has not yet been controlled. However, some OPEC countries such as Iraq and Nigeria have not followed the production reduction agreement. Some countries are facing a negative reduction in production. The market is still facing the risk of oversupply. Crude oil has not been able to stand firm for 40 dollars and shake up.

Last week (6.8-6.12), benzene was continuously raised for the 2 time, with a total price of 200 yuan / ton to 3700 yuan / ton. The cost surface of cyclohexanone is stable and well supported, with a large volume of downstream procurement, relatively balanced supply and demand, and a marked rise in prices. In terms of caprolactam, Sinopec's caprolactam listing price increased by 400 yuan / ton to 10600 yuan / ton in June 8th. (liquid premium products were accepted in June). The maintenance of caprolactam plant is very tight: 100 thousand tons of equipment in western Shandong, and 100 thousand tons in Lubao. As can be seen from the chart, the yield of caprolactam is obviously higher than that of the upstream and downstream because of the decrease of output.

The market slicing of PA6 chips is getting worse, and slice prices have stabilized after rising. Although the supply of raw materials is tight, the export situation is warming up. But domestic aggregate sectioning needs to be improved generally, and after PA6 price rises, downstream procurement is more cautious. Under the trade-off between cost and demand, the price of PA6 has not been adjusted. The price of nylon manufacturers is rising in the short term, as well as the consumption of raw materials. The increase is in the range of 200-500 yuan / ton, and some manufacturers are not ready to make the order, and the price has not yet been raised.

Business analysts believe that the maintenance of the caprolactam plant resulted in the increase in the cost of nylon raw materials. Due to the continuation of the OPCE production plan, the crude oil has a high probability of maintaining high operation, and the cost of the filament is high or sustained.