① Sinopec lowered its listed price for pure benzene by CNY 200 to CNY 10,600/ton; spot costs fluctuated and trended downward.
② Sulfur prices continued to decline, weakening cost support for caprolactam and causing its price to follow suit with a downward correction.
③ Weekly caprolactam output was 121,500 tons, while PA6 chip production reached 116,300 tons. The operating load for nylon filament stood at 67%.
| Figure 3: Trend Chart of Major Domestic Caprolactam Markets (Unit: CNY/ton) |
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| Data Source: Chempricehub Information |
During the period from October 16 to October 22, 2026, the domestic caprolactam market operated weakly. The average spot price in East China was CNY 14,135/ton, down 0.46% week-on-week. On Thursday, October 22, the spot price for caprolactam in East China ranged between CNY 13,950 and CNY 14,000/ton, quoted on an acceptance delivery basis.
The caprolactam market faced pressure and trended weaker during this period. Upstream pure benzene markets experienced volatile declines, with Sinopec lowering its listed price by CNY 200 to CNY 10,600/ton, leading to an overall lower trend in spot prices. The sulfur market continued its downward trajectory, reducing cost support for caprolactam and negatively impacting downstream sentiment. Supply-side reductions were minor, resulting in a weak supply equilibrium. Enterprise inventories struggled to effectively deplete, keeping the market under pressure and causing caprolactam prices to gradually decline. As of Thursday, the spot price for caprolactam in East China was CNY 13,950–14,000/ton, quoted on an acceptance delivery basis.
Comparison Table of Domestic Caprolactam Price Changes (Unit: CNY/ton)
| Product | Region/Category | Current Period Average | Previous Period Average | Change Value | Change Rate | Unit |
|---|---|---|---|---|---|---|
| Caprolactam | Liquid Spot, East China | 14135 | 14200 | -65 | -0.46% | CNY/ton |
The gross margin for caprolactam production was -CNY 1,313/ton this period, an increase of CNY 760/ton compared to the previous period. The gross margin for caprolactam units was CNY 494/ton, up CNY 706/ton from the previous period.
Caprolactam output was 121,500 tons this period, a decrease of 1,300 tons from the previous period. The capacity utilization rate for caprolactam was 70.03%, down 0.75 percentage points from the previous period.
Caprolactam inventory stood at 44,000 tons this period, a decrease of 1,500 tons from the previous period.
The caprolactam market is expected to remain under pressure and trend weaker in the next period. Key focus areas include:
Cost Side: Strong cost support from pure benzene combined with continuous port inventory depletion will likely keep the East China pure benzene market running high and strong next week, with prices referencing CNY 10,300–10,700/ton.
Supply Side: Following partial load reductions by caprolactam producers, the supply structure remains in a weak equilibrium. However, inventories are difficult to effectively clear, and local sales pressures persist.
Demand Side: Downstream demand sentiment is bearish. Polymer enterprises maintain a slow pace for raw material procurement, primarily focusing on pressing prices for purchases.
Overall, favorable support for the caprolactam market has weakened recently. The market is expected to consolidate slightly lower next week, with East China spot prices potentially oscillating within the range of CNY 13,800–14,000/ton.
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