Corporate quotes rise, downstream buyers remain cautious (Sep 15, 2026)

1. Today's Summary

① Sinopec refineries in East, South, and Central China have raised pure benzene prices by 550 RMB/ton to 9,900 RMB/ton, effective September 10.

② The weekly settlement price for Sinopec caprolactam for the second week of September is 14,480 RMB/ton (with six-month acceptance interest-free).

2. Spot Market Overview

Table 1: Domestic Caprolactam Price List (Unit: RMB/ton)

Today, the spot price of caprolactam in East China remained stable at 14,300 RMB/ton (delivery included, payment via bank acceptance bill). Supported by firm listed prices for Sinopec pure benzene, caprolactam producers adjusted their quoted prices upward, with some offering as high as 14,800 RMB/ton. However, the tight supply situation has eased slightly, while downstream participants remain cautious due to high prices, resulting in a lack of follow-through transactions. Consequently, market negotiations remain stalemate-like.

3. Production Dynamics

Today, the capacity utilization rate for caprolactam stood at 69.34%, based on a total capacity base of 8.26 million tons. Regarding profitability: the gross margin for caprolactam production was -1,300 RMB/ton, while the gross margin for caprolactam units was 233 RMB/ton.

4. Price Forecast

Cost pressures on caprolactam persist, prompting enterprises to continue pushing up their intended prices. In the short term, the caprolactam market is expected to remain firm to strong. However, insufficient demand-side momentum may limit further price increases.

5. Related Products Status

Pure Benzene: Today, the spot price of pure benzene in East China corrected from highs, with the center of gravity for spot negotiations shifting slightly downward. Mainstream negotiation prices ranged from 9,620 to 9,850 RMB/ton, largely consistent with morning forecasts. On the cost side, crude oil's marginal support for pure benzene prices weakened. Holders of long positions in the main contract month reduced holdings and rolled over contracts. The tight spot supply pattern has not fundamentally reversed. Improved exports for certain end-use products led to active entry by rigid demand buyers at lower levels, causing market prices to rebound after an initial drop.

PA6 Chips: Downstream factories showed significant wait-and-see attitudes, with most market purchases limited to immediate needs. However, high and firm costs provided support for chip ex-factory prices. Today, PA6 conventional spinning standard grade traded at 14,800–15,000 RMB/ton (cash, short-term delivery), while high-speed spinning spot goods traded at 15,100–15,200 RMB/ton (payment via bank acceptance bill, delivery included).

6. Data Calendar

Table 4: Domestic Caprolactam Data Overview (Unit: 10,000 tons)

Note:

1. ↓↑ indicates significant fluctuations, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow-range fluctuations, highlighting data dimensions with changes within 0-3%.