The relentless increases in prices continue in April, with expectations of a big jump versus March, mainly due to the recent spikes in energy prices pushing up costs.
At the start of the year, buyers expected an ease in the upside during the first half as markets returned to normal after the pandemic. But the war in the Ukraine at the end of February led to a surge in gas and oil prices and prompted another wave of vertiginous increases in resin prices.
What is more, the persistent high gas prices has apparently caused producers of ammonia to reduce or completely shut down production. A short supply of ammonia increased prices and reduced production of PA resins.
But despite lower supply of resins buyers have little issues in secureing volumes because the high prices and uncertainty are also causing a reduction in demand.
The lower demand and a balanced market is unlikely to prevent the big price increases in April for both PA6 and PA66 as producers are expected to adjust production rates to demand in order to limit a major squeeze or indeed losses on margins because of the higher costs.
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The GC Intelligence™ Nylon Engineering Resins (PA6/PA66) Market Prices, Forecasts, and Analysis reports are published monthly. The reports contain historical, current, and forecast prices of PA66 GF30; PA66 Natural; PA6 GF30; PA6 Natural.
- PA66 GF30
- PA66 Natural
- PA6 GF30
- PA6 Natural