The upstream and downstream support is hard to find, PA66 price is temporarily stable (10.1-10.31)

I. price trend 

According to the data of the bulk list of business agencies, the market of PA66 in China continued to be weak and stable in November, while the low price was temporarily stable. As of November 31, the average offer price of PA66 is about 23100.00 yuan / ton, which is the same as the average price at the beginning of the month.


Analysis of influencing factors:



In the upstream of PA66 this month, adipic acid continued the weak market in October and has been in the downward channel for three consecutive months, with a cumulative decline of 7.13% from September to November. At present, loose supply, weak demand and loss of cost support are the three main reasons for dragging the market. In November, the downstream demand for adipic acid became weaker; in addition, the steady increase of supply led to the increase of social inventory pressure, and the long-term inventory removal of enterprises was not significant, so the price fell again and again. In terms of region: the markets in East China and South China have declined, but the decline has narrowed compared with that in October. The market atmosphere is slightly bleak, dealers are mainly active in shipping, and the market maintains a weak and volatile pattern. At present, the downstream market has a heavy wait-and-see mentality, the transaction is slightly deadlocked, and there is room for businesses to save and transfer profits. In addition, the upstream cost side lost the key support. Although pure benzene ended the slump in September October, the rebound effect is not ideal at present. The MDI of related products is also not optimistic, and the price remains weak, which is an important reason for the loss of support in the cost side of adipic acid and the price slump. It is estimated that adipic acid will not get out of the haze in a short time before this year; at the beginning of this month, the spot supply of PA66 market is still abundant, the terminal market is still just in need of goods, and the downstream factories have less inquiries, so the purchase is light. The weak mentality of the industry has not changed, and most orders are flexible. In November, the overall domestic market of PA66 still showed weak and stable adjustment.


Future forecast:


Business analysts believe that the domestic PA66 market in November was weak and stable. The upstream adipic acid continued to weaken, but the decline narrowed, which had limited support for PA66 cost side. There is no improvement in the enthusiasm of downstream stock up, and the strategy of just need to take the goods as the main strategy. The market buying is light, the industry is still bearish, and the operation is limited. It is expected that PA66 will continue to operate weakly and stably in the near future.