Caprolactam market in early June in the case of local supply reduction and increased demand, short-term supply and demand imbalance led to a rebound in market prices, but the recent decline in upstream pure benzene and downstream PA6 slice prices, restricting market confidence, caprolactam prices slightly adjusted.

The recent decline in the price of pure benzene, due to the increase in the supply of pure benzene, coupled with the East China port supply is expected to concentrate on the post in the later period, the downstream procurement slowdown, the pressure on the pure benzene market, the spot price in the East China market once fell to 6000 yuan/ton and lower, to Thursday East China price 6100-6170 yuan/ton, Sinopec pure benzene listed price down 300 yuan/ton to 6200 yuan/ton. The price of pure benzene declined, and the cost side had a negative effect on caprolactam.

Recently, the PA6 polymerization load is basically maintained near 70%, and the overall start-up situation is relatively stable, and the demand in the high-speed spinning field can still support the polymerization start, coupled with some new production capacity and maintenance capacity restart, the polymerization link has certain support for caprolactam demand. However, with the decline in prices of upstream crude oil and pure benzene, as well as the influence of negative factors such as the abundant supply of polymer chips, the market price of PA6 chips is also weakening, especially the continued weak terminal demand for conventional spinning chips, under the abundant supply situation, the inventory of polymerization factories is growing, the shipping pressure of enterprises is still there, and the price is partly falling.

At present, the general supply price of PA6 conventional spinning chips in the East China market is basically 12700-12800 yuan/ton of cash short delivery, the price of some northern supplies is slightly lower, and the price of some slices is slightly higher at 12800-12900 yuan/ton, and the trading atmosphere of conventional spinning chips is weak. The spot price of high-speed spinning semi-optical slicing is 13200-13400 yuan/ton acceptance, the high-speed spinning slicing contract is mainly traded, the semi-optical slicing market is mainly sold normally, and the demand for dull slicing is slightly better.

In summary, although the caprolactam market has a relatively strong supply and demand structure in the near future, due to the weakening of upstream and downstream product prices, restricting market trading confidence, the price of upstream pure benzene has fallen, the downstream PA6 polymerization factory’s own slicing sales pressure, caprolactam raw material procurement caution, caprolactam enterprises according to their own production and sales flexible sales, some prices have fallen slightly recently.

In the later stage, caprolactam supply in the short term, Cangzhou Xuyang phase I overhaul, Sanning overhaul plan is slightly delayed, other enterprises mainly to stabilize production, and caprolactam overall inventory is at a low level, the supply side has certain support, or will restrict caprolactam price correction range. Cost and demand side is relatively weak, pure benzene market due to the late production of new capacity and expected port inventory increase, pure benzene prices are expected to be temporarily around 6000-6200 yuan/ton low arrangement. PA6 chips, especially conventional spinning chips, are in abundant supply, enterprise inventories are still increasing, and product prices may have been mainly low. Caprolactam market influence factors coexist, it is expected that the short-term price is stable and weak. In the later stage, pay attention to the restart progress of the maintenance device and the change of downstream PA6 polymerization demand.