Weekly Report: Nylon (Oct.15th- Oct.19th)

This week, CPL market continued to be weak and RMB spot market also followed flat tendency. The leading quotations of spot goods were around 18,800-18,900 Yuan/ton, while individual product was at a low price of 18,600 Yuan/ton, the trading atmosphere was general. Furthermore, the dollars market went down. For example, the leading price of Eastern Europe cargo was around 2,390-2,400 dollars/ton, the trading atmosphere was mild.

In the aspect of nylon chip, the price of nylon chip was difficult to get better due to weak CPL raw material. The quotation of conventional spinning nylon chip in East China was around 20,000-20,500 Yuan/ton, which fell 300 Yuan/ton compared with last week, while the low price was about 19,800 Yuan/ton. The customs mainly added the inventories according to their demands. In addition, the price of the high-speed spinning nylon chip in Jiangsu and Shandong market was around 20,300-20,600 Yuan/ton, which dropped 400 Yuan/ton compared with last week. The purchasing mood was general and the inventories backlogged slightly.

And the price of nylon yarn was mainly stabilized at this week. As for POY, the cash quotation of the low-end POY85D/24F was around 23,000-23,400 Yuan/ton in Jiangsu market, the downstream demands was general and the inventory pressure was not great. As for FDY, the leading quotation of the semi-dull nylon FDY70D/24F was around 25,200-25,500 Yuan/ton (By 6-month acceptance) and the demands improved slightly. In the aspect of texturing, the quotation of the high-end Yiwu-made nylon DTY70D/24F was about 28,500 Yuan/ton. The inventories backlogged 1 month and the operating rate of the manufacturer was sufficient.

The nylon market was weak and the market confidence was hard to improve. So the purchase of downstream manufacturer postponed, the transactions continued to decline and the downstream demands remained the weak tendency. Therefore, it was predicted that nylon price would not be optimistic next week.