According to Xiuyu News, on January 9, a signing ceremony was held for a new project with an annual production capacity of 400,000 tons of caprolactam and 100,000 tons of hexamethylenediamine, along with supporting facilities. This marks the addition of a significant engine to the construction of Putian City's national-level new functional materials industry cluster, valued at hundreds of billions, injecting new momentum into strengthening, extending, and complementing the industrial chain of chemical new materials in the Shimen'ao Industrial Park. As one of Fujian Province's hundred "most critical" projects, this signed project continues to leverage the driving effect of leading enterprises, building upon the existing industrial foundation of the park to further achieve the organic integration of green, low-carbon practices and efficient production. With a total investment of 6 billion yuan, the project will further expand the park's caprolactam production capacity upon completion, fostering closer industrial linkages with upstream and downstream enterprises. It will help establish a short-distance industrial chain loop for "benzene–caprolactam–polyamide 6 and polyamide 66," significantly reducing overall production costs.

PriceSeek Analysis
PA66, Bull-Bear Score: -1
This project adds 100,000 tons of hexamethylenediamine capacity, a key raw material for PA66, which will directly increase PA66 supply. Combined with the improved production efficiency and reduced overall costs (total project investment of 6 billion yuan) brought by the optimized industrial chain loop, it is expected to exert downward pressure on spot prices. The increased supply may shift the market supply-demand balance toward a looser state, resulting in a generally bearish impact.

PA6, Bull-Bear Score: -1
The project adds 400,000 tons of caprolactam capacity, primarily used for PA6 production, which will significantly increase PA6 spot supply. Coupled with the cost-saving effects achieved through the industrial chain loop (the short-distance chain of "benzene–caprolactam–polyamide 6"), reduced production costs may translate into lower terminal prices, exerting generally bearish pressure on the spot market. Prices are expected to face downward pressure.