Weak Demand, Nylon Prices Continue To Fall

According to statistics, as of April 14, DTY of nylon filament in Jiangsu was reported at 19120 yuan / ton, down 560 yuan / ton compared with the middle of March and 200 yuan / ton compared with the beginning of April; the price of nylon POY was 16750 yuan / ton, 500 yuan / ton lower than that in the middle of March; the price of nylon FDY was 19400 yuan / ton, with a decrease of 450 yuan / ton. Judging from the price trend, nylon prices continued to fall from the middle of March, but the range was not large.

Weak demand and insufficient cost support

After the last round of big rise, according to many manufacturers, downstream demand for nylon is not high, most downstream enterprises keep normal, just need to take goods, basically small orders, the market transaction is weak, the on-site supply of goods is sufficient, inventory increases, some manufacturers start to adjust accordingly, upstream and downstream parties are cautious about the future market.

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According to the large list data, the domestic PA6 market generally fell at a high level in the first ten days of April. Generally speaking, the current PA6 fundamentals are negative. Spot prices have been reduced. As of April 12, the mainstream offer price of 2.75-2.85 by sample enterprises was about 14800 yuan / ton, a decrease of 1.33% compared with the average price at the beginning of the month, and an increase of 42.31% over the same period last year.

Raw material caprolactam prices continue to fall, PA6 cost side support is weakened, disk continued to lower the market. At present, the decline of PA6 has lasted for more than a month. In addition to the weakening of upstream prices, another important influencing factor comes from the PA6 industry itself. At present, the domestic PA6 supply is strong, the demand is weak, the market turnover power is insufficient, and the poor trading has affected the focus of the offer. Traders and factories began to accumulate stock, high inventory, and the decline in spot prices also weakened the profits of the polymerization plant. The recent profit situation of domestic polymerization plants is not good, and most manufacturers have negative profit situation, which leads to passive reduction of negative load of some units. At present, the operating rate of the industry has dropped to 70%, and it is likely to continue to decline.

3. Future forecast:

Terminal demand has not improved significantly, most downstream enterprises keep normal, just need to take goods, order support is limited; upstream raw material cost support is insufficient, once the raw material cost support collapses, nylon filament is not immune. It is expected that domestic nylon will be weak and the price will continue to fall slightly.