This week (October 27-31, 2024), costs remained weak and stable, demand was light, and multiple parties held onto essential orders. The trading atmosphere on the market was average, and the overall market performance was weak. The price of nylon fiber continued to decline.

According to the Commodity Market Analysis System of Shengyi Society, the market price of nylon filament continued to decline this week (October 27-31, 2024). As of October 31, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 17240 yuan/ton, a decrease of 300 yuan/ton or 1.71% from last week’s price; Nylon POY (premium product; 86D/24F) is priced at 14750 yuan/ton, a decrease of 375 yuan/ton or 2.48% compared to last week. The price of nylon FDY (premium: 40D/12F) is reported at 18200 yuan/ton, a decrease of 370 yuan/ton or 2.02% from last week’s price.

Weakness sorting of raw materials

This week (October 27-31, 2024), in terms of nylon filament raw material caprolactam, inventory pressure remains high, supply side is still under pressure, spot prices are weakly stable, market sentiment is bearish, and the industry chain is mostly pessimistic. As of October 31, the benchmark price of caprolactam in Shengyi Society is 11202 yuan/ton, which is at a low point of the year.

Supply demand

This week (October 27-31, 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 of nylon filament market is running at around 8.4%. On the demand side, the traditional peak season for textile production in October did not meet expectations, and the “Silver Ten” event did not occur. Terminal demand did not show significant improvement, and the situation of textile market orders was not optimistic. Daily production mainly consumed inventory, and the willingness to continue hoarding was poor. Demand follow-up was very limited, and market confidence was clearly insufficient.

Future forecast

The downstream market demand has not improved and still relies mainly on on-demand procurement; The cost side caprolactam market is mainly weak, and the cost side support for nylon filament is weak. There is no significant positive boost in the market, and pessimistic sentiment is widespread in the market. Business analysts predict that the short-term nylon filament market will mainly consolidate and operate weakly.