China Nylon 6 Market Steady in February, March Outlook Uncertain

From mid-to-late January, nylon 6 chip plants saw strong restocking demand, with many sold out through late February or March, keeping PA6 prices firm in February, though March risks remain.

CPL operating rates were around 70% during the holiday and may rebound to 80% in March, while spot CPL prices neared 10,000 yuan/mt and chip prices traded slightly above 10,500 yuan/mt.

Supply adjustments include Cangzhou Risun maintenance in March (impact clearer in April) and startup of Lu’an Group’s new line in Shanxi, offsetting Juhua’s shutdown.

Despite price strength, PA6 producers are unlikely to raise March operating rates due to weak processing margins, and if CPL runs above 80%, market conditions could revert to the pressure seen in early January.