1、 Price trend

According to the data of the bulk list of business agencies, the market of PA66 in the second week of January was stable and stable, with relatively low prices. As of January 10, the average price of the mainstream offer of PA66 is about 23025.00 yuan / ton, which is 0.20% lower than the average price at the beginning of the week.

Analysis of influencing factors:

The market of adipic acid in the upper reaches of PA66 has remained stable this week, with little change in prices in most regions, and some of them have been raised. Basically speaking, the supply pressure is not reduced and the demand is not changed much, which is the main factor that puzzles the adipic acid to get out of the weak situation. The improvement of the cost side does not bring a rebound in the market of adipic acid in the lower reaches, but aggravates the dilemma of enterprise profit contraction. At present, the demand of adipic acid downstream is still not improving, and there is no peak of purchasing season before the Spring Festival in the downstream. In addition, the social inventory pressure has not been alleviated, the market has not reversed the upward momentum, and the enterprise inventory and market inventory still maintain a high level, which is closely related to the current low demand and low procurement, which is also an important reason why the adipic acid price did not continue the rebound Market at the end of December last year. In terms of region: the price in East China and South China market is still low, and some dealers have stopped rising. Even though some dealers have a tentative surge, the range is limited to 50-100 yuan / ton. The market atmosphere is a little cold, dealers actively give priority to profit delivery, and the market maintains a weak and volatile pattern. At present, the downstream market still generally holds a wait-and-see attitude, and the transaction is slightly deadlocked. In addition, from the perspective of upstream cost, although pure benzene has ended the rising pattern, it is still at a high level. As of January 10, the rise and fall of pure benzene in this month is 0%, but the transmission effect of high cost is restrained by the weak downstream demand, which does not bring much positive effect to the adipic acid market. On the contrary, with the rising price of pure benzene, the profits of adipic acid manufacturers are compressed. At the same time Suffering from weak demand, prices have not improved, which confirms the extremely weak market situation; this week, PA66 market is still dominated by sideways consolidation. On the supply side, the spot market is still abundant. The operating rate of downstream factories continued to decline, and there was no centralized stocking behavior in the downstream before the festival. The overall purchasing power is not strong, and the strategy of “just need to take delivery” is often adopted. As the terminal market is still weak, the atmosphere in the market is quiet, and the mentality of the industry hasn’t changed, most orders are flexible.

Future forecast:

Business analysts think: January domestic PA66 market sideways consolidation. Although the weak demand of adipic acid in the upstream continues, the price tends to be stable near the pre Festival period, which has limited support for PA66 cost side. There is no improvement in the enthusiasm of downstream stock up, and the strategy of just need to take the goods as the main strategy. The market atmosphere is quiet, the industry’s wait-and-see mentality is heavy, and the operation is limited. It is expected that PA66 will continue to run horizontally in the near future.