This week (August 19-23), the nylon filament market remained stable with slight fluctuations, operating steadily with prices slightly rising. Upstream raw materials are becoming stronger, and the weekly settlement price of Sinopec’s caprolactam is 13250 yuan/ton (interest free for six-month acceptance), an increase of 100 yuan/ton compared to last week. There is currently no significant improvement in downstream demand, and manufacturers are following up on demand from multiple parties. The trading atmosphere on the market is flat, and businesses lack confidence in the future market. The industry’s operating rate remains stable, with little change in on-site supply. The inventory levels of various manufacturers are average, and inventory pressure is not significant. Overall, as costs continue to rise and demand remains weak, the price of nylon filament remains stable with slight fluctuations.

According to the Commodity Market Analysis System of Shengyi Society, the market price trend of nylon filament has slightly improved this week (August 19-23). As of August 23, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 18680 yuan/ton, an increase of 40 yuan/ton compared to last week. Nylon POY (premium product; 86D/24F) is priced at 16300 yuan/ton, an increase of 25 yuan/ton from last week. The price of nylon FDY (premium: 40D/12F) is reported at 19725 yuan/ton, which is the same as last week’s price.

The trend of raw materials is stable, moderate, and strong

This week (August 19-23), the fundamentals of the nylon filament raw material caprolactam market improved, with stable and strengthening cost support. The weekly closing price of Sinopec caprolactam was 13250 yuan/ton (interest free for six-month acceptance), an increase of 100 yuan/ton from last week.. The supply expectation is slightly tight, and downstream nylon PA6 production remains at a high level, with stable demand. The supply expectation of caprolactam is slightly tight, and it is expected that the caprolactam market will be slightly better organized in the later stage.

Supply demand

This week (August 19-23), nylon manufacturers maintained stable operating loads and sufficient supply of goods. In August, it was the traditional off-season for textiles, and downstream demand was weak. The weaving start-up rate continued to be weak. The comprehensive operating rate of chemical fiber weaving in Jiangsu and Zhejiang regions this week was 60.85%, an increase of 1.90% compared to last week. However, there is still a gap in the number of new orders compared to previous years, resulting in a low operating rate in the weaving industry. Downstream manufacturers are adopting on-demand procurement, and their demand for nylon spinning is weak and difficult to change.

Future forecast

The spot market for raw materials such as caprolactam and PA6 is expected to be slightly better organized, with normal on-site supply and weak downstream demand. With the disappearance of high temperature weather, the trading atmosphere for nylon civilian silk may slightly rebound, but it will still be mainly based on on-demand purchasing. Business analysts predict that the short-term nylon filament market will mainly follow the positive consolidation of raw materials, and prices will mainly fluctuate upward in a narrow range.