Since the beginning of the year, due to the rise in crude oil prices, the closure of the chemical fiber raw material market, insufficient supply and other factors, many giants have made several rounds of price increases on related products in order to offset the cost pressure, and price increase letters have been issued. Soft-handed.
Recently, Toray Plastics (China) Co., Ltd. has adjusted the prices of related products due to the increase in PA raw material prices and tight supply:
Nylon 6 (non-filled grade) + 4.8 yuan/kg (raised by 4,800 yuan/ton);
Nylon 6 (filled grade) + 3.2 yuan/kg (raised by 3,200 yuan) yuan/ton);
Nylon 66 (non-filled grade) +13.7 yuan/kg (increased by 13,700 yuan/ton);
Nylon 66 (filling grade) +9.7 yuan/kg (increased by 9,700 yuan/ton).
The above-mentioned RMB adjustment includes 13% VAT (EU value-added tax);
This price adjustment will take effect on March 10, 2021 .
Original price increase letter:
After October 2020, the adiponitrile plant will be affected by force majeure and Affected by factors such as the recovery of downstream demand, domestic nylon 66 prices have been rising, rising from 20,500 yuan/ton to 37,500 yuan/ton, an increase of as much as 82.9%. After domestic major manufacturers raised prices by 6,000-6,500 yuan/ton last weekend, in the face of rising prices, market participants are worried that the shortage of raw materials will not be alleviated in the short term and prices will continue to rise. On the other hand, they are worried that excessively high prices will lead to Downstream demand is shrinking, so with such tight supply, will the price of nylon 66 hit the high point in 2018?
The supply of raw materials is tight
The spandex and PBAT industries have expanded significantly and increased Demand
During the holidays, due to the cold weather in the United States, INVISTA and Ascend issued force majeure notices on the same day (February 16). The global production capacity of adiponitrile was affected by more than 50%, the supply of adiponitrile is extremely tight. After that, DuPont, BASF and other companies have successively issued force majeure announcements. Before the holiday, Radici’s 110,000 tons of nylon 66 chips also issued a force majeure announcement. In this case, the raw materials have been The tight situation of dinitrile has gradually transferred to the tight situation of nylon 66 slices, and the market expects that the tight supply of adiponitrile will remain in the first half of 2021.
Let’s take a look at another raw material of nylon 66, adipic acid. The price also entered a rising channel around the Spring Festival. Recently, the price has risen from 8,200 yuan/ton to 10,300 yuan/ton (acceptance delivery). On the one hand, it is mainly because crude oil, pure benzene and cyclohexanone are all on the upward channel. In addition, its downstream demand is also good. On the one hand, the demand is polyurethane. , the other is the spandex and PBAT fields. The substantial expansion of the PBAT industry in the future will increase the demand for adipic acid.
Beware of systemic risks that may arise after the market surges
Nylon 66 began to rebound from the 10-year low of 16,000 yuan/ton at the end of May and early June 2020, with few corrections along the way. The current price has reached 37,500 yuan/ton, especially after the Spring Festival. It has risen sharply, from 31,500-32,000 yuan/ton to 37,500 yuan/ton in the short term. Under this situation, market participants expect nylon 66 to rise to 40,000 yuan/ton. From the author’s point of view, at the current spot price of hexamethylenediamine As high as 45,000 yuan/ton, the supply of adiponitrile is so tight, coupled with global monetary easing, and almost all petrochemical products are skyrocketing, it seems not surprising that nylon 66 has risen to 40,000 yuan/ton. However, we cannot be blindly optimistic. We must also beware of the systemic risks that may arise after the market surges. </p
