Last week (May 12-18, 2025), the upstream raw material caprolactam market for nylon filament regained confidence, with prices slightly rising and good cost support. However, downstream market shipments were not smooth, demand continued to be weak, and procurement enthusiasm was not high. Some nylon filament manufacturers had high inventory levels, and nylon filament market prices continued to decline slightly.
According to the Commodity Market Analysis System of Shengyi Society, last week (May 12-18, 2025), the price center of nylon filament slightly decreased. As of May 18, 2025, DTY (premium product) of nylon filament in Jiangsu region; 70D/24F) quoted 14780 yuan/ton, a decrease of 140 yuan/ton compared to last week, with a weekly decrease of 0.80%; Nylon POY (premium product; 86D/24F) quoted 12300 yuan/ton, a decrease of 75 yuan/ton compared to last week, with a weekly decrease of 0.94%; The price of nylon FDY (premium product: 40D/12F) is reported at 15350 yuan/ton, a decrease of 150 yuan/ton from last week, with a weekly decline of 0.97%.
The raw material market has stopped falling and risen
In terms of cost: Last week (May 12-18, 2025), the spot market price of caprolactam stopped falling and rose, while the market price of high-speed spinning nylon PA6 slices temporarily showed a downward trend. The market price of raw materials stopped falling and rose, and the cost side was well supported. As of May 18, 2025, the benchmark price of caprolactam in Shengyi Society was 9366 yuan/ton, with a weekly increase of 3.46%. During the week, the market price of high-speed spun nylon PA6 chips saw a slight decline, with a 1.22% drop in nylon PA6 prices, indicating weak cost support.
Supply and demand: During the week, some nylon filament manufacturers have lowered their operating rates, resulting in a decline in overall market supply. However, industry inventory levels continue to increase, leading to poor performance on the supply side; The demand in the end market is weak, and some downstream manufacturers have reduced production or switched production, resulting in a decrease in demand for nylon filament. It is difficult to find favorable support from the demand side.
Future forecast

Cost aspect: In terms of caprolactam, the price range of pure benzene has been adjusted, and some units in the caprolactam market may experience a certain decline in operation. Downstream purchases are mainly cautious, and it is expected that the caprolactam market price will fluctuate and adjust next week. In terms of nylon PA6 slicing, the cost support is good, and the market supply is expected to slightly increase. Downstream manufacturers are not enthusiastic about purchasing, and it is expected that the nylon PA6 slicing market will fluctuate and consolidate next week, with prices mainly rising slightly.
Supply and demand side: Most of the nylon filament manufacturers’ facilities are operating stably, and the industry supply is relatively high. The overall inventory level in the market may still be high, and it is expected that the supply side support for the nylon filament market will be average in the short term; There is no sign of improvement in the demand of the terminal market, and downstream factories or inventory consumption are the main factors. It is difficult for the demand side to improve, so it is expected that the demand side of the nylon filament market will not change next week.
Overall, the spot market for raw material caprolactam is expected to remain stable with small fluctuations, while the market for nylon PA6 chips is expected to rise. The cost side is well supported, and downstream markets are adopting a cautious and wait-and-see attitude, purchasing according to demand. The demand side is unlikely to improve. Business analysts predict that the nylon filament market price will mainly stop falling and rise next week.

Price Trend Review
According to the monitoring of the commodity market analysis system of Shengyi Society, on May 16th, spot electrolytic nickel was reported at 126258 yuan/ton, with a weekly increase of 1.20%, showing an overall trend of “rise fall rise, range oscillation”, mainly affected by the alternating effects of macroeconomic sentiment recovery and fundamental suppression.
Macro level: China US trade easing+domestic policy boost
Significant reduction in tariffs between China and the United States:
On May 12th, China and the United States reached a consensus on economic and trade relations, with both sides canceling 91% tariffs, suspending 24% tariffs, and reducing tariffs to 10% after April 2nd, directly easing the cost pressure on export-oriented manufacturing industries.
After the agreement came into effect, the booking volume of container transportation between China and the United States surged by 277% within 9 days, and the market’s expectations for metal demand improved.
Domestic financial policies are being strengthened:
The central bank, the State Administration of Financial Supervision, and the China Securities Regulatory Commission jointly released a package of financial policies to stabilize the market and expectations. The expectation of loose liquidity has increased, and the sentiment in the industrial products market has rebounded.
Supply side: Policy news disturbance, inventory surplus remains unchanged
Rumors of a ban on nickel ore exports from the Philippines: There are market rumors that the Philippines plans to ban nickel ore exports in June 2025 (subject to congressional approval and a long implementation period), which will stimulate bullish sentiment in the short term, but the actual supply impact is limited (after 2025).
Indonesia’s tight supply continues: The rainy season in May continues, and nickel mining is hindered. Domestic trade prices remain strong, providing short-term support for nickel iron costs.
Global inventory changes: LME nickel inventory decreased by 2448 tons per week (to 195222 tons), and overseas spot pressure slightly eased. Domestic Shanghai nickel inventory increased by 75 tons per week (to 23501 tons), and the pattern of oversupply has not been reversed.
Demand side: Weak stability of stainless steel, dragged down by new energy
Stainless steel demand remains stable: On May 15th, the spot price of stainless steel was reported at 13255 yuan/ton, up 1.6% on a weekly basis. However, the production schedule of steel mills decreased month on month, and the recovery of the manufacturing industry was slow. Nickel demand only maintained basic demand.
Weakening demand for new energy: The growth of ternary precursor orders is weak, nickel sulfate prices are falling, and the marginal driving effect of new energy on nickel consumption continues to weaken.
Market forecast: Macro sentiment improves, cost support strengthens, supporting nickel prices to rise; However, the pressure of oversupply still exists, the recovery of demand is weak, and the long short game continues. It is expected that the nickel price range will fluctuate upward.

Market Overview
At the beginning of the week, the dichloromethane market in Shandong continued to be under pressure and fell, with light trading and manufacturers offering discounts on shipments. Dichloromethane fell to a five-year low. On May 13th, the average price of dichloromethane dispersed water in Shandong region was 2035 yuan/ton. Subsequently, the tariff policies of China and the United States, as well as domestic financial policies, stimulated market vitality and boosted confidence in market recovery. The upward trend of raw material methanol supported the rebound of dichloromethane. According to the monitoring of the commodity market analysis system of Shengyi Society, as of May 15th, the average price of dichloromethane dispersed water in Shandong Province was 2120 yuan/ton, an increase of 2.66% during the week.
analysis of influencing factors
Supply side: Partial negative price reduction to stabilize prices, overall still loose
Device dynamics: Shandong Jinling Chemical is operating at a reduced load, with an overall industry operating rate of around 75% and a relatively stable supply.
Enterprise inventory: With the recovery of market sentiment and the strengthening of downstream buying sentiment, the pressure on enterprise inventory has eased to some extent.
Cost side: methanol strengthens, liquid chlorine weakens
Methanol: The market has seen a significant increase, with spot prices rising and shipment transactions improving. Methanol prices rebounded by 4.94% during the week, providing stronger support for the cost of dichloromethane. Today, there was a slight decline. As of May 15th, the spot price of methanol in Shandong was reported at 2426.25 yuan/ton, with a weekly increase of 0.99%.
Liquid chlorine: The price of liquid chlorine in Shandong has slightly fallen, weakening the cost support of dichloromethane.
Demand side:
The downstream market of refrigerants is in the traditional peak season, and the market continues to have a high atmosphere. R32 is consolidating at a high level, and due to quota restrictions, dichloromethane is purchased on demand. There has been no significant improvement in other areas.
Future prospects
Policy benefits continue to ferment: the adjustment of tariffs between China and the United States, as well as domestic policies to stabilize growth, may continue to boost market sentiment.
Enhanced cost support: If methanol prices remain high, the profit margin of dichloromethane will be compressed, and manufacturers’ willingness to raise prices will increase.
Seasonal support for demand: The refrigerant industry is still in peak season, and if R32 prices remain firm, it may drive demand for dichloromethane replenishment.
It is expected that the short-term dichloromethane market will experience strong fluctuations.

According to the Commodity Market Analysis System of Shengyi Society, the domestic PP market in the first half of May showed weak consolidation, with most brand products experiencing narrow price fluctuations. As of May 14th, the mainstream offer price for wire drawing by domestic producers and traders is around 7440 yuan/ton, a decrease of -0.56% compared to the price level at the beginning of May.
price trend
In terms of raw materials:
The previous US tariff policy had a huge impact on the global economy, and crude oil prices plummeted as a heavily affected area. At present, the US China talks have released many positive signals such as the suspension of tariffs, and crude oil prices have continued to rebound. At the same time, the decoupling of domestic propane trade is expected to be lifted, and the future price may fall. The cost pressure on PDH manufacturing enterprises may be reduced. The propylene market is strong due to the rise in raw materials, but the differentiation of demand has hindered the increase. Overall, in the first half of May, the prices of various raw materials provided weak and then strong support for PP costs.
Supply side:
In the first half of May, the load of domestic PP enterprises remained stable with a slight decrease, and the market supply remained generally abundant. Overall, the industry’s overall load level has decreased by 3% to 76% compared to the pre holiday period, with an average weekly total output of approximately 780000 tons. However, the total domestic inventory continues to rise to a high of 900000 tons. The supply side still exerts certain pressure on the spot price of PP.
In terms of demand:
In the first half of May, the demand side of PP continued to be weak, and on-site trading maintained a weak and rigid demand situation. The consumption level of end enterprises in plastic weaving has returned to the off-season level. With the passing of the small peak in material usage, the release speed of PP demand in fields such as construction and agriculture has slowed down. However, under the recent suspension of tariffs between China and the United States, market confidence has been strengthened, and there is a high expectation of a rebound in PP consumption in the future. The export resistance of downstream PP products in China has decreased. However, the transmission of positive news still takes time. Currently, buyers’ purchasing operations are still cautious and biased towards scattered small orders. Although there has not been a significant increase in new orders in the market. Overall, the performance of the PP demand side was average in the first half of May.
Future forecast
In the first half of May, the domestic PP market prices were consolidating. Fundamentally speaking, the comprehensive support of upstream raw materials for PP initially weakened and then strengthened. The industry has abundant supply, inventory pressure, and weak consumption continues. The results of the current China US talks have a positive impact on both the upstream and downstream of PP, injecting a stimulant into the market atmosphere and raising expectations for future prices. At present, some merchants in the market are trying to raise prices, but the market still needs to go through the process of de stocking. It is recommended to closely monitor the circulation of goods.

Last week (May 5-11, 2025), the price center of the upstream raw material market for nylon filament fell, cost support weakened, downstream market shipments were not smooth, procurement enthusiasm was not high, and some nylon filament manufacturers had high inventory levels. Under multiple negative factors, the nylon filament market price was under pressure and declined.
According to the Commodity Market Analysis System of Shengyi Society, last week (May 5-11, 2025), the price of nylon filament continued to decline under pressure. As of May 11, 2025, DTY (premium product) of nylon filament in Jiangsu region; 70D/24F) quoted 14920 yuan/ton, a decrease of 120 yuan/ton from last week, with a weekly decrease of 0.80%; Nylon POY (premium product; 86D/24F) quoted 12375 yuan/ton, a decrease of 125 yuan/ton compared to last week, with a weekly decrease of 1.00%; The price of nylon FDY (premium product: 40D/12F) is reported at 15500 yuan/ton, a decrease of 150 yuan/ton from last week, with a weekly decline of 0.96%.
The raw material market continues to decline
In terms of cost: Last week (May 5-11, 2025), Sinopec’s high-end caprolactam weekly closing price was executed at 9360 yuan/ton. During the week, the spot market price of caprolactam and the market price of high-speed spinning nylon PA6 slices both showed a downward trend, and the market price of raw materials continued to decline, with poor cost support. As of May 11, 2025, the benchmark price of caprolactam in Shengyi Society was 9053 yuan/ton, with a weekly decline of 2.25%. During the week, the market price of high-speed spun nylon PA6 chips saw a slight decline, with a weekly drop of 0.61%, indicating weak cost support.
Supply and demand: During the week, some nylon filament manufacturers have lowered their operating rates, resulting in a decline in overall market supply. However, industry inventory levels continue to increase, leading to poor performance on the supply side; The demand in the end market is weak, and some downstream manufacturers have reduced production or switched production, resulting in a decrease in demand for nylon filament. It is difficult to find favorable support from the demand side.
Future forecast
Cost aspect: In terms of caprolactam, the price range of pure benzene has been adjusted, and some units in the caprolactam market may experience a certain decline in production. Downstream procurement is mainly cautious, and it is expected that the caprolactam market price will remain weak and stagnant next week. In terms of nylon PA6 slicing, the cost support is weak, and the market supply is expected to slightly increase. Downstream manufacturers are not enthusiastic about purchasing, and it is expected that the nylon PA6 slicing market will slightly decline next week.
Supply and demand side: Most of the nylon filament manufacturers’ facilities are operating stably, and the industry supply is relatively high. The overall inventory level in the market may still be high, and it is expected that the supply side support for the nylon filament market will be average in the short term; There is no sign of improvement in the demand of the terminal market, and downstream factories or inventory consumption are the main factors. It is difficult for the demand side to improve, so it is expected that the demand side of the nylon filament market will not change next week.
Overall, the spot market for raw material caprolactam is expected to remain stable with small fluctuations, while the market for nylon PA6 chips may experience a decline. Cost support is limited, and downstream markets tend to adopt a cautious and wait-and-see attitude, purchasing on demand. Demand is unlikely to improve, and analysts from Business Society predict that the nylon filament market price will remain stagnant next week.