Demand continued the downward trend, weakened by deteriorating economic conditions, increasing imports and buyers attempting to decrease inventories.
The expectation earlier this year that the rise in energy costs would fuel inflation and ultimately slow down demand is coming to fruition.
Many market segments are seeing slowing activity with little to suggest a rebound. Some of the most important segments, such as electrical and electronics, construction, industrial and automotive, are seeing poor activity.
The automotive sector has registered yet again positive sales numbers. But overall numbers remain below pre-pandemic levels. The sector is suffering from ongoing supply chain issues, now made worse by poor economic activity.
The increase in imports during a time or poor market conditions further reduce demand for domestic suppliers. While this time of the year sees buyers destock, stressed balance sheets are magnifying this trend.
All signals point to a lacklustre recovery in Q1 with the risk of further deterioration.
The market update is an exerpt fromt the monthly report.
Nylon Engineering Resins Report
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.
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