In September 2024, the nylon filament market operated weakly, with prices continuing to decline. Upstream international crude oil prices have fluctuated downward, suppressing market sentiment. The supply of raw material caprolactam in the market is loose, resulting in lower prices and a downward shift in the cost center. Downstream market demand is weak, and the “golden nine” of the textile industry is not present. It is difficult to find favorable support from the demand side, and the activity of on-site trading is not good. The industry’s operating rate remains stable, with little change in on-site supply. The inventory of nylon filament market has increased, and under multiple negative factors, the price of nylon fiber market remains weak and continues to decline.

According to the Commodity Market Analysis System of Shengyi Society, the market price of nylon filament continued to decline in September. As of September 29, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 18220 yuan/ton, a decrease of 460 yuan/ton from the beginning of the month, a monthly decrease of 2.46%; Nylon POY (premium product; 86D/24F) is priced at 15700 yuan/ton, a decrease of 600 yuan/ton or 3.68% from the beginning of the month. The price of nylon FDY (premium product: 40D/12F) is reported at 19300 yuan/ton, a decrease of 425 yuan/ton or 2.15% from the beginning of the month.

Weak raw materials continue to decline

In September 2024, in terms of nylon filament raw material caprolactam, the international oil price fluctuated and fell in September, which had a negative impact on costs. The industry chain held a pessimistic attitude. After the caprolactam market was put into operation in Shanxi, Shandong, Hubei and other places, the supply in the market gradually relaxed, and the price dropped significantly. The settlement price of Sinopec’s high-end caprolactam in September 2024 was 12986 yuan/ton (liquid superior product self pickup after six months of acceptance), a decrease of 199 yuan/ton from the settlement in August. As of September 29th, the benchmark price of caprolactam in Shengyi Society was 12020 yuan/ton, a decrease of 8.43% from the beginning of the month.

Supply demand

In September 2024, the overall supply of nylon filament market remained stable, and most of the nylon filament market facilities were operating steadily. Currently, the daily production rate of the nylon filament market is around 8.4%. On the demand side, the traditional peak season for textile production in September did not meet expectations, and the “Golden September” did not occur. Demand did not substantially improve, coupled with weak costs. Weaving manufacturers mainly maintained stable production, and foreign trade brands gradually issued orders. However, the order volume is still mainly in a small quantity and multiple times mode, and there are still few bulk goods. Lack of market confidence.

Future forecast

Although entering the traditional peak season for textiles, downstream market demand will improve to some extent, but there is currently no obvious sign of improvement, and on-demand procurement is still the main focus; The cost side caprolactam market is mainly weak, and the cost side support for nylon filament is weak. Pessimistic sentiment is pervasive in the market, and demand is unlikely to improve significantly. Business analysts predict that the short-term nylon filament market will mainly consolidate and operate weakly, and prices will continue to decline narrowly.