Home Nylon Engineering Resins (PA6/PA66) Market Prices, Forecasts, and Analysis

Nylon Engineering Resins (PA6/PA66) Market Prices, Forecasts, and Analysis

MARKET UPDATE

May 2024

European PA6 and PA66 prices in May rolled over for both PA6 and PA66. The upward pressure from costs, particularly benzene and caprolactam, eased in May while demand remained sluggish. Attempts by suppliers to increase prices and recover margins were hindered also by continuous competitive imports.

The outlook sees prices plateauing, with the upside limited by weak demand and the downside constrained by cost pressures. A sustained recovery is not expected until next year.

Chinese economy’s lack of traction suggests imports will continue.

Suppliers continue to seek volumes for both PA6 and PA66 as demand overall seems to have slowed down in the past couple of months compared to the first quarter.

And while shortages of caprolactam may have reduced some PA6 supply, it has not significantly impacted market dynamics. There is also good availability of PA66 given the sluggish demand from the automotive market.

Minor reductions observed in higher-priced PA66 accounts despite overall stability.

Beliefs are growing for a revival of imports despite ongoing transport issues. Higher benzene prices and caprolactam shortages have pushed up costs and prices, potentially canceling out recent competitive gains versus imports.

The lack of traction in the Chinese economy reinforces the likelihood that imports will continue to remain competitive. As for costs, benzene has decreased to €1117/MT, down €151/MT in May, but recent spot deals suggest support for benzene prices going into June.

Meanwhile, caprolactam prices remained steady. Despite the lower upstream benzene prices in May, caprolactam prices are unlikely to decrease soon due to supply shortages.

Source: GC Intelligence

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