Raw Material Cost Decreased Nylon Filament Prices Fell Sharply

According to the statistics of business community, as of April 28th, the DTY of nylon filament in Jiangsu area was reported to be 15167 yuan / ton, a decrease of 1833 yuan / ton compared with last Tuesday, a decrease of 10.78%, a decrease of 29.46% over the same period last year. The price of nylon POY was 12520 yuan / ton, down 700 yuan / ton, or 5.30%, down 32.76% compared with that of the previous year. The price of nylon FDY was 15750 yuan / ton, falling by 250 yuan / ton, or 1.56%, down from last year.

Crude oil slump, market confidence has been battered. Crude oil futures prices plummeted in April 20th, and the WTI crude oil futures price in May dropped by about 300% to $-37.63 a barrel. For the first time in history, it fell to a negative value and the lowest price was $-40.32 per barrel. The main force continued to explore. In April 22nd, the settlement price was $11.57 / barrel, and then bottomed out. However, the relevant forecast indicates that the global crude oil inventories are rising rapidly, and the pressure of storage capacity will only become more and more serious. In addition, the strategic reserves of commercial crude oil in the United States exceed the expected growth rate, and the global oil storage space may be exhausted in the next few weeks. Crude oil plunged again. In April 27th, the US WTI crude oil futures market plummeted, and the settlement price of the main contract was quoted at 12.78 yuan / barrel, or 4.16 or 24.6%.

Crude oil prices took the lead and chemical products declined. In April 26th, the average price of pure benzene listing was 3170 yuan / ton, down 5.37% compared with April 19th. As of April 28th, the average price of cyclohexanone dropped by 147 yuan / ton on Tuesday, or 2.63%; caprolactam fell 267 yuan / ton, or 3.05%; PA6 fell 200 yuan / ton, or 1.89%.

Insufficient support for raw materials, rapid cooling of masks market and price drop of nylon filament. Masks market with a short period of time stimulated the explosion of nylon. Before the company said that the market could not last long, some enterprises showed a sharp rise and fall. In mid April, enterprises directly raised the price by 4000 yuan / ton, and now the price is 3000 yuan / ton. How hard it is to rise and how bold it is to fall. The price of nylon filament is still higher than that in April. Upstream supply is tight in the short term, and the overall price of nylon filament has been raised under the promotion of masks and hype.

The drop in crude oil is not the bottom line. The market for masks has a ceiling. Before the price rises, the price is too bold. Now the price adjustment is not too late. Business analysts believe that crude oil consumption and inventory problems plagued by low volatility, cost side support inadequate, filament prices fell sharply, the demand side is still in general, the price is expected to shift downward.