Global Polyamide 6 Prices Showcase Mixed Sentiments Due to Feedstock Fluctuation
- 07-Oct-2022 3:54 PM
- Journalist: Jacob Kutchner
During the end of the third quarter of 2022, the price of Polyamide 6 6 observed a mixed sentiment in the global market owing to the fluctuation in feedstock Caprolactam price and other key driving factors.
In China, the price of Polyamide 6 was stable during the past few weeks in September. The supply from the manufacturers was high, and the surplus availability of the product balanced the price of the Polyamide 6. The feedstock Caprolactam prices showed a downtrend during the last fortnight in the Chinese domestic market, which supported the prices of downstream industries. At the beginning of September, China, Japan, and South Korea were affected by natural calamities and heavy rain in this region, which impacted the supply chain; however, the traders and suppliers stockpiled the product to curb the demand from the downstream industries.
According to the Analyst, the price of Polyamide 6 hovered around USD 2310/MT on a FOB Dalian basis during the week ending 30th September 2022.
In Europe, the market sentiment for Polyamide 6 showed a slightly upward trajectory during the end of the third quarter. In September 2022, Russia stopped the natural gas supply to Germany from the Nord Stream 1 Pipeline, which affected the natural gas prices in the European region. The mid of September, Italy-based well-known company Radici declared force majeure on Adipic Acid and shutdown down Polyamide 6 in the Novara plant, Italy, due to the high raw material cost and high natural gas prices.
As per data, the cost of Polyamide 6 settled at USD 4350/MT on a DDP Hamburg basis with a weekly inclination of 0.7% during the week ending 30th September 2022.
In the United States, the price of Polyamide 6 witnessed a downward trajectory due to cost decreases from the upstream Cyclohexanone in the domestic market. The weak demand from the downstream automotive and textile sectors and high inventory from the traders constrained the price in the southern direction. The source said that the shipping rates dropped an average of 29% in September due to slow global demand and peak season failing to materialize.
As of September, the price of Polyamide 66 settled at USD 3810/MT on a DEL US Gulf basis with a weekly declination of 1.3% during the week ending 30th September 2022.
As per the ChemAnalyst, the Polyamide 6 price may be inclined due to India's festive season in the upcoming weeks. OPEC+ countries agreed on Wednesday to cut the production output by more than 1 million barrels per day. This will affect the shortage in crude oil supply, and the operating cost might increase in the global market.