China PA66 Market Remains Weak and Stagnant

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According to SunSirs monitoring, PA66 prices have been on a downward trend since June 1 (starting at 20,766.67 RMB/ton), falling to 19,800.00 RMB/ton by June 15 before entering a period of consolidation. During the week of June 17–23, the reference price for PA66 held steady at 19,800.00 RMB/ton, with daily price fluctuations remaining at 0.00%. The market overall is characterized by "stabilization after a decline" and "weak stagnation," with the price level having dropped by approximately 4.65% since the beginning of the month.

Cost Side: Upstream raw materials—adipic acid and hexamethylenediamine—had already undergone significant price corrections previously and have now gradually stabilized. Consequently, the thorough production cost to PA66 has stopped falling, providing a floor to spot prices and preventing further sharp declines. However, with crude oil prices fluctuating weakly and no upward momentum from upstream energy sectors, raw material prices have merely stabilized without rebounding. As processing margins remain reasonable, manufacturers currently lack the incentive to cut production due to losses; thus, the cost side merely limits the extent of the decline without providing the upward push needed to drive a price recovery.

Supply and Demand Side: The market is characterized by ample supply and weak demand. On the supply side, market inventory is plentiful. Manufacturers are seeing a gradual accumulation of stock and increased pressure to move goods, leading to greater instances of traders offering price concessions to facilitate sales. On the demand side, recovery in downstream end-consumption industries has fallen short of expectations. Coupled with the sector entering its traditional off-season, downstream factories are limiting purchases to essential replenishment needs; willingness to bulk procurement remains low, making it difficult to boost overall market demand. Transactions are primarily small-volume orders based on immediate needs, and the overall market trading atmosphere remains sluggish.

In the short term, the PA66 market is expected to continue its direction of weak fluctuation with a slight downward drift in price levels. The market will likely remain in a state of weak stagnation, with significant price surges or plunges unlikely to occur. The reference price range is 19,500–20,300 RMB/tonne; the market is primarily consolidating at the low end to establish a floor, with any rebound opportunity contingent upon clear positive signals emerging from the demand or raw material sectors.

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