① Sinopec's listed price for pure benzene remained at 9,900 yuan/ton this week. Spot prices for pure benzene fluctuated significantly, placing continued cost pressure on caprolactam.
② Caprolactam producers intended to continue pushing prices upward; however, downstream buyers were cautious about accepting higher prices, leading to a supply-demand standoff and the market consolidating at high levels.
③ Weekly caprolactam output was 120,100 tons, while polyamide 6 (PA6) chip production reached 117,000 tons. The operating load for nylon long fibers stood at 67.5%.
| Figure 3: Trend Chart of Major Domestic Caprolactam Markets (Unit: Yuan/Ton) |
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| Source: Chempricehub Information |
During the reporting period (September 11–17, 2026), the caprolactam market consolidated at high levels. The average spot price in the East China market was 14,320 yuan/ton, representing a week-on-week increase of 3.10%. On Thursday, September 17, the spot price for caprolactam in the East China market was 14,400 yuan/ton (acceptance payment, delivered).
The caprolactam market experienced intense bargaining at high levels during this period. Upstream crude oil and pure benzene markets saw wide fluctuations. Pure benzene spot prices trended slightly lower, while Sinopec maintained its listed pure benzene price at 9,900 yuan/ton. Consequently, the cost side for caprolactam faced significant pressure from high levels. Caprolactam producers intended to make catch-up price hikes this week, pushing offer prices upward. However, sentiment in the downstream PA6 chip market weakened, with polymerization enterprises resisting high-priced raw materials. This led to a supply-demand standoff in the caprolactam market. Furthermore, the drop in pure benzene prices on Thursday intensified caution among downstream buyers. As of Thursday, some spot prices for caprolactam in East China were quoted at 14,400 yuan/ton (acceptance payment, delivered).
Domestic Caprolactam Price Change Comparison Table (Unit: Yuan/Ton)
| Product | Region/Category | Current Period Average | Previous Period Average | Change Value | Change Rate | Unit |
|---|---|---|---|---|---|---|
| Caprolactam | Liquid, East China Spot | 14320 | 13890 | +430 | +3.10% | Yuan/Ton |
The gross profit margin for caprolactam production was -1,307 yuan/ton during this period, an increase of 36 yuan/ton compared to the previous period. The gross profit margin for caprolactam units was 243 yuan/ton, up by 67 yuan/ton from the previous period.
Caprolactam output was 120,100 tons during this period, an increase of 2,300 tons compared to the previous period. The capacity utilization rate for caprolactam was 69.22%, rising by 1.13 percentage points from the previous period.
Caprolactam inventory stood at 19,500 tons during this period, an increase of 1,500 tons compared to the previous period.
Caprolactam prices are expected to decline next period. Key focus areas include:
Cost Side: While simultaneous increases in supply and demand for pure benzene, coupled with destocking support, suggest fundamental resilience, expectations of geopolitical easing are suppressing the cost side. Amidst bullish and bearish bargaining, prices may trend lower, weakening the expected cost support for caprolactam.
Supply Side: Tightness in caprolactam supply has eased, and available spot volumes have increased, leading to weakened confidence within the market.
Demand Side: Trading activity in the downstream PA6 chip market has slowed, with negative feedback from end-users gradually transmitting upstream.
In summary, both cost-side and supply-side support for the caprolactam market are expected to weaken next week. Prices may consolidate at lower levels, with the spot price for caprolactam in the East China market likely oscillating between 14,000 and 14,400 yuan/ton.
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