Market balance, PA66 horizontal consolidation (11.18-11.22)

I. price trend

According to the data of the bulk list of business agencies, in late November, the market of PA66 in China was stable, and the spot price was basically sideways. As of November 22, the average price of the mainstream offer of PA66 is about 23100.00 yuan / ton, which is the same as that at the beginning of the week.

Analysis of influencing factors:

According to the data of the bulk list of business agencies in the upper reaches of PA66, the domestic adipic acid market has been adjusted in a narrow range in the near future, with little price change, but it is still not out of the downturn. Basically, loose supply and weak demand are still the main factors that hinder adipic acid from rebounding, and the upstream raw material market has not shown any good. At present, the weak demand in the downstream of adipic acid, together with the increase of supply, leads to the increase of social inventory pressure. Since October, the market has been in the stage of de stocking. The effect of de stocking for two consecutive months is not obvious. The enterprise inventory and market inventory still maintain a high level, which is also an important reason why the price of adipic acid has not rebounded. In terms of region: the prices in East China and South China are still low, and some dealers are slightly weak, but the range is limited. 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, there is little change in the upstream cost side. Although pure benzene has ended the downward shock pattern and rebounded slightly, it has not brought much positive effect to the adipic acid market, which may be one of the reasons why the price of adipic acid remains weak. It is suggested to pay close attention to the effect of market de stocking and the follow-up situation of downstream demand. It is expected that the market will continue to be weak in the near future. At present, the market of PA66 in China is in horizontal consolidation and operation. In the aspect of spot supply, the downstream factories are still just in need of goods. The inquiry intention is relatively low, and the demand has not improved. The market is generally bullish, the mentality of the industry is limited, and the on-site trading is flat.

Future forecast:

Business analysts think: PA66 market is stable in the near future. The trend of adipic acid in the upstream is stable temporarily, which has limited support for PA66 cost surface. There is no improvement in the enthusiasm of downstream stock up, and replenishment is just needed. The market is generally buying gas, and the industry is mainly in wait-and-see attitude. PA66 is expected to be stable in the near future.