In June 2024, nylon filament prices fluctuated with costs, rising in the first half of the month and continuing to decline in the middle and second half of the month, resulting in an overall price decline. In the first ten days, the raw material caprolactam market was at a high level of consolidation, with strong prices. In the middle and late ten days, the supply of raw material caprolactam in the market was loose, and prices continued to decline. The operating rate of the nylon filament industry is maintained, and there is not much change in on-site supply. The inventory levels of various manufacturers are average, and the inventory pressure is not high. The overall demand is weak. Overall, the impact of cost and demand is bearish, and the nylon filament market is experiencing a narrow decline.

Market prices rise first and then fall

According to the commodity market analysis system of Business Society, in June 2024, the price center of nylon filament generally declined. As of June 28, 2024, the price of DTY nylon filament (premium product; 70D/24F) in Jiangsu region was quoted at 19220 yuan/ton, a decrease of 260 yuan/ton from the beginning of the month, with a monthly decrease of 1.33%; Nylon POY (premium product; 86D/24F) is priced at 16850 yuan/ton, a decrease of 375 yuan/ton from the beginning of the month, with a monthly decrease of 2.18%; The price of nylon FDY (premium product: 40D/12F) is reported at 20225 yuan/ton, a decrease of 225 yuan/ton from the beginning of the month, with a monthly decrease of 1.34%.

Weakness sorting of raw materials

In early June 2024, the market for caprolactam, a raw material for nylon filament, was at a high level of consolidation, with strong prices, providing strong support for nylon filament. In mid June, as the upstream pure benzene market declined, factory equipment maintenance was gradually completed, and on-site supply was loose, with limited support for nylon filament. In addition, downstream on-demand procurement created a strong trading atmosphere in the market, and the price of caprolactam continued to decline. In June, caprolactam fell by 2.7% on a monthly basis.

Supply and demand

In June 2024, nylon manufacturers maintained a stable operating load, with sufficient supply of goods and little inventory pressure. The overall downstream demand is weak, and downstream manufacturers are multidimensional and purchasing according to demand, resulting in a downward trend in demand for nylon spinning.

Future Market Forecast

With a slight decline and consolidation in the spot market for raw materials such as caprolactam and PA6, limited cost support, and normal on-site supply, downstream demand has shown a weak trend. In July, with the arrival of the off-season in the textile market, analysts from Business Society predict that the short-term nylon filament market will mainly follow the weak trend of raw material consolidation, and prices will mainly decline and consolidate.