Price trend
According to the data of the business club’s block list, the domestic PA66 market was stable in the second week of May, with a slight drop in the spot prices of various brands. As of May 17, the average offer price of PA66 medium viscosity injection molding sample enterprises was about 40900 yuan / ton, a decrease of 0.61% compared with the average price at the beginning of the month, and a rise of 113.58% compared with the same period last year.
Cause analysis
The price of adipic acid in the upper reaches of China has dropped from a high level in recent years due to the high price of adipic acid in the early stage. However, after May, there was no sign of a pause in the market. The current price range of adipic acid in East China was about 10380 yuan / ton, a 5.12% drop compared with the beginning of the month. On the supply side, the starting price of adipic acid enterprises was high in April, and the inventory pressure gradually increased. However, the current market is in a relatively off-season, downstream procurement is slowing down, and the speed of delivery is obviously declining, so the operation of reducing prices and going to the warehouse has become the mainstream. Under the influence of increasing supply pressure and relatively weak demand, the price lost its support and gradually went down. According to the business association, adipic acid is still in the cycle of destocking, the price is easy to fall but difficult to rise, and it is difficult to relieve the pressure of market supply in the later stage in the short term. It is expected that the market of adipic acid may not improve in the near future.
In terms of raw material adipic acid market, the cost side support of PA66 was weakened due to the rapid cooling, and the overall performance of PA66 market was light recently. The current consolidation market to undertake the high callback in April, PA66 supply and demand pattern has been weak for more than a month and a half. Compared with the decline of some upstream, the improvement of raw material supply is still not obvious, and the continuous high cost is the main reason for the weak supply and demand of PA66. At present, the overall operating rate of domestic PA66 industry is still low, and individual enterprises still have parking maintenance problems. At the same time, although there is no pressure on the inventory, the profit margin is compressed, and the production and shipment mainly meet the early orders. The end-user purchasing strategy is mainly cautious, and the trading kinetic energy is insufficient, so it is difficult to increase the market demand.
Future forecast
Analysts from business news agency said: in the second week of May, the domestic PA66 market was still under the influence of high cost pressure of tight raw material supply, and the profit margins of polymerization enterprises and end users were seriously compressed. The atmosphere in the venue was weak, 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. There is resistance to high price goods delivery. It is understood that the real order transaction is relatively flexible, and the price center of gravity may have dropped. PA66 market is expected to continue the trend of weak stalemate in the short term.
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