Inventory Is More Adequate, Nylon Price Based Shipment

According to the statistics of business agency, as of August 26, DTY of nylon filament in Jiangsu was reported at 15066 yuan / ton, which was the same as the price on August 15, with a year-on-year decrease of 16.30%; the price of nylon POY was 12720 yuan / ton, with a decrease of 120 yuan / ton, a decrease of 0.93%, a year-on-year decrease of 18.77%; the price of nylon FDY was 15750 yuan / ton, which was flat, with a year-on-year decrease of 20.25%. Crude oil performance is strong, but the downstream inventory is more sufficient, order support is general, nylon raw material delivery pressure is still in, although nylon manufacturers hold more prices, transactions generally yield profits.

Due to the impact of the Gulf of Mexico hurricane, U.S. oil producers are urgently reducing crude oil production for the hurricane. As of the week ended August 21, US crude oil inventories fell by 4.5 million barrels. On August 25, the price of us WTI crude oil futures market rose, and the settlement price of main contracts rose by US $0.73 to US $43.35/barrel. In the near future, oil prices may continue to be high.

The shipment of cyclohexanone in the first ten days of August was blocked, and the social warehouse was on the high side, and the price was the main factor,. Last week, the operating rate of caprolactam enterprises was 79%, while the downstream demand improved, mainly supporting prices. In terms of price PA6 slice consumption, due to the early stage traders and downstream factories have a certain amount of advanced consumption for the coming "gold nine silver ten", the current trading volume of PA6 is weakening and the market atmosphere is deadlocked. On the whole, the price of cyclohexanone decreased slightly in the last ten days, while caprolactam recovered slightly, and PA6 remained stable.

Judging from the nylon export data in the first half of the year, China's nylon filament export volume was 119300 tons in June, with a month on month increase of 30% and a year-on-year decrease of 36%. From January to June 2020, the cumulative export of nylon filament was 920800 tons, down 21.4% compared with the same period last year. With the partial recovery of foreign production, nylon exports have recovered, but there is still a significant decline compared with last year. Although some manufacturers switch to domestic sales, the downstream demand is also reduced, and the domestic market is basically saturated. However, compared with the external market, the domestic production environment is more stable and has certain advantages in the current international market competition. It is expected that the export will continue to show a growth trend on a month on month basis.

Business analysts believe that the raw material side has strong support, but the feedback of downstream order demand is limited, which has a slight drag on the rising market, and the industry mainly holds prices. Gradually entered the traditional textile season, winter orders gradually put on the agenda, at the same time, the recent manufacturers offer firm, it is expected that nylon filament market ushered in a warmer.