In April 2025, the upstream raw material market prices continued to decline, while the downstream market held multiple rigid demand orders, with weak support from both the cost and demand sides. The nylon filament market experienced poor shipments and high finished product inventory, with bearish factors prevailing in the market. The nylon filament market prices were under pressure and fell sharply.
According to the Commodity Market Analysis System of Shengyi Society, the monthly average price of nylon filament will continue to decline in April 2025. As of April 30, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 15040 yuan/ton, a decrease of 640 yuan/ton from the previous month, a monthly decrease of 4.08%; Nylon POY (premium product; 86D/24F) is priced at 12500 yuan/ton, a decrease of 825 yuan/ton or 6.19% compared to the previous month; The price of nylon FDY (premium: 40D/12F) is reported at 15650 yuan/ton, a decrease of 625 yuan/ton or 3.84% compared to the previous month.
The raw material market has experienced a significant decline
In terms of cost, the sharp decline in crude oil and pure benzene market prices has driven the continuous decline of the caprolactam market. The settlement price of Sinopec’s high-end caprolactam in April was 9984 yuan/ton (liquid premium products accepted for self pickup in June), a decrease of 806 yuan/ton from the previous month’s settlement. The market for nylon PA6 chips is weak and declining, with prices on the raw material side trending downwards and costs continuing to decline. As of April 30, 2025, the benchmark price of caprolactam in Shengyi Society was 9360 yuan/ton, with a monthly decline of 9.10%. Nylon PA6 experienced a monthly decline of 7.32%.
Supply and demand: In April, the traditional peak season for textiles was not prosperous, and the downstream market’s purchasing willingness was not strong. Demand did not improve, and more raw material inventory was mainly consumed, creating a strong atmosphere of wait-and-see in the market. Part of the nylon filament manufacturers have reduced their operating loads, resulting in a narrow decline in industry supply. The overall inventory level in the field is high, and the performance of the supply side is poor; The demand in the terminal market has not improved, foreign trade orders are insufficient, domestic demand is limited, downstream manufacturers’ finished product inventory continues to accumulate, and the demand for nylon filament market is gradually decreasing, making it difficult to find favorable support on the demand side.
Future forecast
Cost aspect: In terms of caprolactam, cost support may weaken, and the supply of caprolactam in the market will further decrease. Downstream demand is unlikely to improve, and it is expected that the caprolactam market will have a lower focus next month; In terms of PA6 slicing, the cost support is poor, downstream market demand is weak, and the overall inventory level of aggregation factories is high. It is expected that the market price of PA6 slicing will decline next month. Therefore, it is expected that the market price of nylon filament raw materials will decline next month, and the cost trend will be weak.
Supply side: Some nylon filament manufacturers plan to park and vacation during the May Day holiday. If the inventory level on site remains high, some manufacturers have plans to reduce their equipment load. Therefore, it is expected that the supply of nylon filament in the market may decrease next month.
On the demand side: The terminal market demand is weak, and some downstream factories plan to reduce production or shut down for holidays. The demand for nylon filament may continue to decrease, so it is expected that the demand side of the nylon filament market will remain sluggish next month.
Overall, there are downward expectations in the spot market for raw material caprolactam and the market for nylon PA6 chips. There is insufficient cost support, downstream market equipment operating rates may decline, demand may slow down, and industry confidence in the future is insufficient. Business analysts predict that the nylon filament market price will decline slightly next month, with a decline of 100-300 yuan/ton.
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