SunSirs: Weakening Raw Materials Lead to Slight Downturn in Recent PA6 Market in China

I. Market Review

Over the past week (May 4–10), the PA6 market exhibited a weak and volatile trend; cost support diminished, and a pattern of weakness in both supply and demand persisted. According to monitoring by SunSirs, the benchmark price for PA6 trended downward from 13,400 RMB/ton at the beginning of May, falling to 13,200 RMB/ton by May 10—a decline of approximately 1.49%. During the 18th week of 2026 (May 4–8), PA6 led the decline within the engineering plastics sector, recording a weekly drop of 0.75%.

II. Analysis of Causes

From the cost perspective, prices for the core raw material—caprolactam—eased from their previous highs, thereby weakening cost support. The caprolactam market has been retreating from high levels since late April. Sinopec's weekly settlement price for caprolactam fell by 150 RMB/ton from the previous period to 13,650 RMB/ton; on May 8, Hualu Hengsheng lowered its caprolactam price by 250 RMB/ton to 12,300 RMB/ton. The weekly average spot price for caprolactam in East China stood at 12,350 RMB/ton.

From the supply and demand perspective, supply remains relatively ample while demand continues to be sluggish. Operating rates at PA6 production facilities remain generally high, and manufacturers demonstrate a strong willingness to ship inventory; "negotiation based on actual orders" is a common practice, with actual transaction prices frequently falling below quoted prices. Meanwhile, the downstream textile and chemical fiber industries show low tolerance for high-priced raw materials; procurement is primarily driven by "immediate replenishment needs" and a "buy-as-you-go" strategy. There has been no evidence of concentrated stockpiling, and the trading atmosphere remains cautious, resulting in generally lackluster market activity.

III. Short-Term Outlook

In summary, the PA6 market is expected to maintain a pattern of narrow-range consolidation and weak volatility in the short term, with the possibility of a slight downward shift in the price center. Unless there are new catalysts driving price hikes in raw materials, and end-market orders fail to show significant improvement, the market is unlikely to find the momentum for a reversal.

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