Caprolactam Market Support Weakened, Prices Retreated (September 20, 2026)

1. Daily Summary

① Sinopec refineries in East, South, and Central China reduced pure benzene prices by 300 yuan/ton to 9,600 yuan/ton, effective September 18.

② Sinopec's weekly settlement price for caprolactam for the third week of September was 14,795 yuan/ton (with six-month interest-free acceptance).

2. Spot Market Overview

Table 1: Domestic Caprolactam Price List (Unit: Yuan/Ton)

Today, the spot price of caprolactam in East China stood at 14,300 yuan/ton (acceptance basis, delivered), down 100 yuan/ton from the previous working day, representing a decrease of 0.69%. Upstream pure benzene prices remained stable. After Sinopec lowered its posted pure benzene price by 300 yuan/ton to 9,600 yuan/ton, cost support weakened. Downstream traders' confidence remained low. Additionally, with increased supply of caprolactam, the market landscape shifted toward looseness. Both cost-side and supply-side positive factors diminished, causing market prices to trend lower. Today, spot negotiations for caprolactam in East China centered around 14,300 yuan/ton (acceptance basis, delivered).

3. Production Dynamics

Today, the capacity utilization rate for caprolactam was 69.77%, based on a total capacity base of 8.26 million tons. Regarding profits: today's gross margin for caprolactam production was -1,105 yuan/ton, while the gross margin for caprolactam units was 448 yuan/ton.

4. Price Forecast

Fundamental support for the caprolactam market is gradually weakening. The decline in pure benzene prices and the recovery in caprolactam supply are both exerting bearish pressure on caprolactam prices. Downstream sentiment remains pessimistic. Therefore, the caprolactam market is expected to trade weakly in the near term.

5. Related Products

Pure Benzene: There were no transactions in the East China pure benzene market today. Bid prices ranged from 9,520 to 9,600 yuan/ton, largely consistent with morning forecasts. The United States is preparing large-scale military action against the Houthis in Yemen in retaliation for attacks on Saudi Arabia. Crude oil futures prices rose, boosting domestic buying sentiment. However, the pure benzene futures market was closed today. Without guidance from futures prices, holders lacked sufficient reference points for pricing, leading to cautious offers and strong wait-and-see attitudes in the spot market.

PA6 Chips: Polymerization inventories increased slowly. Downstream users showed clear wait-and-see attitudes toward chips. Combined with weakening cost support and mixed market signals, the PA6 chip market trended downward throughout the day. Today, standard spinning PA6 chips traded at 14,750–14,900 yuan/ton (cash, short-distance delivery), while high-speed spinning chips were quoted at 15,000 yuan/ton (acceptance basis, delivered).

6. Data Calendar

Table 4: Domestic Caprolactam Data Overview (Unit: Ten Thousand Tons)