Price Trend
In January 2026, domestic PA66 spot prices stabilized after fluctuations, with a slight rebound by the end of the month. The core drivers were the transmission of upstream raw material price increases and coordinated price support by leading enterprises, while seasonal demand recovery and structural contradictions limited the upward momentum. According to data from Business Society, the benchmark price of PA66 on January 30 was 15,566.67 yuan/ton, unchanged from the beginning of the month but up 2.19% from the monthly low of 15,233.33 yuan/ton. Year-on-year, it fell by 16.76% compared to January 31, 2025.

Influencing Factors
Cost Side:
Adipic acid prices continued to rise this month, showing a sustained upward trend. After the New Year, raw material benzene and cyclohexanone prices kept climbing, providing cost support. Producers repeatedly raised adipic acid ex-factory prices, and market transactions improved. Approaching the Spring Festival, downstream nylon and polyurethane industries engaged in stockpiling, driving demand. Multiple positive factors supported the recovery of adipic acid prices. Business Society price monitoring shows that the average market price of adipic acid increased from 7,133.33 yuan/ton on January 1 to 8,066.67 yuan/ton on January 30, a monthly increase of 13.08%. Overall, cost support for PA66 strengthened.

Supply Side:
This month, some factories reduced operating rates due to increased maintenance. Leading enterprises such as Shenma and Huafeng strengthened price support by controlling production loads (Huafeng’s operating rate was only 60%) and limiting quoted volumes. Traders maintained low inventories, and market supply showed signs of tightening, alleviating the previous sustained pressure of ample supply.

Demand Side:
Approaching the Spring Festival holiday, downstream nylon filament industries initiated phased rigid demand restocking to address production gaps during the holiday, boosting market transaction activity and forming a short-term positive feedback loop with price increases.

Market Outlook
Looking ahead, the PA66 market is expected to remain firm with an upward bias in the short term. Supporting factors include: high operating prices of raw materials adipic acid and hexamethylenediamine; continued restocking demand from some downstream sectors before the Spring Festival; and reduced low-price dumping by enterprises under industry anti-internal competition initiatives. Post-Spring Festival resumption of work and production pace should be monitored.