Price trend
According to the data from the block list of business associations, the domestic PA66 market fell in the third week of May, and the spot prices of various brands generally decreased. As of May 24, the average offer price of PA66 medium viscosity injection molding sample enterprises was about 40500 yuan / ton, a decrease of 1.58% compared with the average price at the beginning of the month, and a rise of 113.16% compared with the same period last year.
Cause analysis
In terms of upstream adipic acid, the market continued to top down in the early stage after May, and the spot price fell last week and then ran smoothly. At present, the starting level of the industry is on the high side, the inventory pressure of the manufacturers is great, and the price reduction is the main reason. With the market entering the off-season, the speed of goods delivery has decreased significantly. Under the increasing pressure of supply and weak demand, the price of adipic acid lost support and gradually declined. In the near future, the market is still in the cycle of destocking, and the price is easy to fall but difficult to rise. It is expected that adipic acid may continue to adjust, so it is not ruled out that the range will continue to move down.
The raw material adipic acid was weak, the support of PA66 cost side was weakened, and the overall performance of PA66 market fell last week. The previous weak supply and demand pattern of PA66 industry has not improved, and it has lasted for nearly two months. Recently, the overall operating rate of domestic PA66 industry is still low, and some enterprises have maintenance plans at the end of the month. However, the market’s response to this favorable situation is weak. At present, the momentum of trading in the market is insufficient, and the merchants’ shipment follows the market and the negotiation space is increased. The demand of downstream factories continued to be weak, and they took the operation of buying on the low price and buying on the demand. Although the overall inventory of PA66 is not under pressure, the profit margin is compressed and the market atmosphere is not active.
Future forecast
Business analysts believe that: in the third week of May, the pattern of high cost pressure in the domestic PA66 market continued, and the profit space of aggregation enterprises and end users was seriously compressed. The atmosphere in the venue was cold and the situation of weak supply and demand continued. In the case of the downstream passive delivery, it is difficult to expect the demand side to make efforts. Under the favorable situation of production capacity loss, the resistance of on-site goods delivery increases instead of decreasing, and the actual price center of gravity under the game of supply and demand may have declined. PA66 market is expected to continue weak trend in the short term.
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