Driven by Costs, the Price of Polyamide Filament Rose on August 24

Upstream Raw Materials: Caprolactam Prices Surged, Strengthening Cost Support

Caprolactam prices are clearly on the rise; Sinopec's settlement price to the third week of August was set at 13,115 RMB/ton (six-month interest-free acceptance draft), an increase of 610 RMB/ton from the previous period, marking a significant upward shift in the cost base. Consequently, the market to PA6 polyamide chips has remained at a high level, with chip prices tracking the rise in raw material costs; this has provided a strong cost floor to polyamide filament yarn and served as the primary driver behind the recent price hikes to filament.

Polyamide Filament Market: Prices Rising Across All Varieties in a Stepped Manner

In terms of spot market prices, the price of polyamide DTY (70D/24F, semi-dull, premium grade) in the Jiangsu market held steady at 16,120 RMB/ton from August 17 to 20, rose to 16,420 RMB/ton on August 21, and climbed further to 16,580 RMB/ton on August 24, marking a cumulative weekly increase of 460 RMB/ton.

Jiangsu polyamide POY (86D/24F, semi-dull, premium grade) initially remained stable at 14,000 RMB/ton, rose to 14,350 RMB/ton on the 21st, and was quoted at 14,500 RMB/ton on the 24th, reflecting a cumulative rise of 500 RMB/ton.

Fujian polyamide FDY (40D/12F, semi-dull, premium grade) started at 16,500 RMB/ton, was raised to 16,825 RMB/ton on the 21st, and reached 16,950 RMB/ton on the 24th, showing a similar upward direction.

Overall, the price of polyamide filament has recently shown a direction of initial stability followed by a surge; prices across various specifications remained steady until August 20, with a first round of price hikes occurring on the 21st and further increases on the 24th. POY saw particularly notable gains, while DTY and FDY prices rose in tandem, with market movements driven entirely by the pass-through of upstream raw material costs.

Downstream Demand: Procurement Driven by Immediate Needs; Sales Pressure Persisted

Against the backdrop of sharply rising costs, demand from the downstream weaving sector has shown no significant improvement. Downstream factories are largely adhering to a "buy-as-needed" strategy; there is little willingness to chase rising prices, and no extensive restocking has occurred. while spinning companies have raised their quotes, moving inventory remains difficult, and acceptance of higher-priced supplies is limited; the price hikes lack substantive support from end-market demand.

Market Outlook:

Current market trends to polyamide filament are primarily driven by the costs of caprolactam and PA6 chips, as demand has yet to provide robust support. Future market direction will largely depend on price fluctuations of upstream caprolactam feedstock; if raw material prices remain firm, filament prices are likely to stay high. Conversely, should the rise in raw material costs slow down, further upward movement in filament prices might be constrained by sluggish downstream demand. Consequently, it is essential to continuously monitor raw material prices, downstream weaving operating rates, and the status of incoming orders.