Nylon Filament Market In May: Raw Material Prices Rebound, Filament Prices Rise With Raw Materials

According to the statistics of business community, as of May 28th, the DTY of nylon filament in Jiangsu area was reported to be 15333 yuan / ton, up 167 yuan / ton compared with the beginning of May, or 1.10%, down 23.21% compared with the same period last year. The price of nylon POY was 12720 yuan / ton, up 200 yuan / ton, or 1.60%, down 25.61% from the same period last year. The price of nylon FDY was 16250 yuan / ton, and the price increased by 500 yuan / ton, or 3.17%, down from last year. In May, multinational economic activity gradually restored to boost market confidence, crude oil rose, nylon raw material prices rebounded, and filament prices rose with raw materials.

The multinational economy gradually recovered, crude oil prices continued to rise, as of May 27th, WTI crude oil futures rose 73.66%. But in late May, Sino US trade relations were tight, crude oil gains decreased, and there was a risk of falling back.

In the first half of May, crude oil rose strongly to support the raw material of nylon filament. At the same time, because of partial shutdown and delayed recovery, caprolactam was short supply, stimulating the price of upstream and downstream. The market quotation of caprolactam was once pushed up to 10100-10300 yuan / ton. However, with the return of spot supply of cyclohexanone, high price decreases, market prices emerge, and external quotas stabilize.

Because of the supply of raw materials, PA6 prices continue to rise strongly. From the chart, we can see that PA6 has a strong correlation with caprolactam, and the rally is quite similar in some periods. PA6 is subject to tight supply of caprolactam, but the actual turnover has not improved significantly. Upstream raw material supply will be replenished, but there will be a big upward driving force in the short term. In late May, Sino US trade relations were tense, the market was cautious about the rise in oil prices, the crude oil rose later, the derivatives increased slowly, the downstream demand was light, the supply of caprolactam was gradually restored, and the market returned to stability.

In May, the market price of nylon raw materials was generally raised, which promoted the price of nylon filament yarn manufacturers to raise prices. However, there was no big improvement in downstream demand. Sino US trade relations are tight, crude oil may be sensitive to this, and the possibility of falling down is not ruled out. Once the cost of raw materials is collapsed, nylon filament can not be spared. It is expected that the price chart of nylon filament will be stable and the price will be increased cautiously.