In May 2024, downstream demand performed well, and the raw material caprolactam was relatively strong. The nylon filament market continued to rise in price with the raw material. The operating rate of the nylon filament industry is at a high level, and there is little change in on-site supply. The inventory levels of various manufacturers are average, and the inventory pressure is not significant. Downstream manufacturers are multidimensional and steadily purchasing according to demand, and overall demand is still acceptable. Overall, the cost side continues to rise strongly, with little change in on-site supply and stable terminal demand.

Market prices continue to rise

According to the commodity market analysis system of Shengyishe, in May 2024, the price of nylon filament rose along with the wide range of raw materials. As of May 30, 2024, the price of DTY nylon filament (premium product; 70D/24F) in Jiangsu region was quoted at 19480 yuan/ton, an increase of 640 yuan/ton from the beginning of the month, with a monthly increase of 3.40%; Nylon POY (premium product; 86D/24F) is priced at 17225 yuan/ton, an increase of 700 yuan/ton from the beginning of the month, with a monthly increase of 4.24%; The price of nylon FDY (premium product: 40D/12F) is reported at 20500 yuan/ton, an increase of 525 yuan/ton from the beginning of the month, with a monthly increase of 2.89%.

Continuous strong operation of raw materials

In May 2024, the market for caprolactam, a raw material for nylon filament, was relatively strong, with prices continuing to rise, with a monthly increase of 6.26%. The price of raw material pure benzene has increased, leading to increased cost support; In May, the export volume of caprolactam increased, downstream demand remained stable, demand for raw materials improved, and terminal demand increased. Some companies are planning maintenance for their caprolactam units, leading to a tightening of market supply. According to the Commodity Market Analysis System of Business Society, the average market price of domestic caprolactam on May 30th was 13602 yuan/ton, and on May 1st, the average market price of domestic caprolactam was 12825 yuan/ton, with a monthly increase of 6.26%. The combination of cost support and good terminal demand has led to a concentration of favorable factors, driving up the price of caprolactam. It is expected that the market price of caprolactam will slightly increase in June, but the subsequent upward trend may slow down.

Supply and demand

In May 2024, nylon manufacturers maintained a stable operating load, with sufficient supply of goods and little inventory pressure. Entering May, downstream demand is gradually increasing, and downstream manufacturers are holding steady purchases according to demand. The demand for nylon spinning remains stable, and the recovery of domestic demand for nylon filament is relatively optimistic.

Future Market Forecast

The spot market for raw material caprolactam is relatively strong, with acceptable cost support. On site supply remains normal, and downstream demand is stable. Business Society analysts predict that the short-term nylon filament market will mainly follow the stable preference of raw materials, and prices will continue to follow the upward trend of raw materials.