① Sinopec raised its pure benzene posted price by CNY 400 to CNY 10,600/tonne, pushing caprolactam costs higher.
② The supply landscape for caprolactam remains loose; however, with strong cost increases, the industry has shifted into a loss-making position, strengthening producers' willingness to maintain prices.
③ This week’s caprolactam production was 124,700 tonnes, while PA6 chip production reached 116,300 tonnes. Nylon filament operating rates stood at 67%.
| Product | Region/Category | Current Period Average | Previous Period Average | Change | % Change | Unit |
|---|---|---|---|---|---|---|
| Caprolactam | Liquid East China Spot | 14,117 | 13,800 | +317 | +2.3% | CNY/tonne |
During this period (October 8–10, 2026), domestic caprolactam prices rose. The average spot price in the East China market was CNY 14,117/tonne, up 2.3% week-on-week. On October 10, the East China spot price for caprolactam was quoted at CNY 14,200/tonne on an acceptance payment basis, delivered.
Caprolactam markets followed the upward trend in raw material costs. After the holiday, pure benzene markets continued their strong rally, with Sinopec raising its posted price to CNY 10,600/tonne. This further increased production costs for caprolactam manufacturers, who are now operating at a loss. Consequently, producers have shown stronger resolve to hold prices, leading product prices to gradually track cost increases. Downstream PA6 polymerizers remain generally cautious, purchasing only based on immediate demand. As of Saturday, the East China caprolactam price stood at CNY 14,200/tonne (acceptance payment, delivered).
The gross profit margin for caprolactam production during this period was -CNY 2,473/tonne, an improvement of CNY 111/tonne compared to the previous period. The plant-level gross profit margin was -CNY 321/tonne, an increase of CNY 306/tonne from the previous period.
Caprolactam output during this period was 124,700 tonnes, an increase of 400 tonnes compared to the previous period. The capacity utilization rate was 71.87%, rising by 0.23 percentage points from the previous period.
Caprolactam inventories during this period were 45,500 tonnes, an increase of 8,000 tonnes compared to the previous period.
The caprolactam market is expected to engage in high-level bargaining in the next period. Key focus areas include:
Cost Side: High pure benzene prices have established a high-cost environment for caprolactam in October. With caprolactam producers shifting into losses, their willingness to support prices remains strong, providing underlying support for caprolactam prices.
Supply Side: Based on current operating rates, the October supply landscape for caprolactam remains loose, which will constrain potential price gains.
Demand Side: End-user demand lacks significant improvement. Both downstream polymerization and spinning segments are also operating at a loss, leading to continued caution in purchasing high-priced raw materials.
Overall, the caprolactam market faces a dilemma in the short term, with prices likely to fluctuate within a narrow range. Future developments should monitor changes in pure benzene costs and whether caprolactam producers reduce output due to losses, as these factors will influence the subsequent market trajectory.
Comments
0