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Nylon margins improve in China

  

The margin of nylon 6 filament yarn in August 2022 was improving in China.

The nomination price of upstream HS chip was higher than the final settlement.However, the price increase in the spot market basically ended in the first half of September, with NFY prices following up in time, thus repairing the deep decline in margin rapidly. The profit condition of NFY plants in September was better than that in June to July.

In recent years, the price spread between nylon 6 DTY 70D and semi-dull HS chip has been on a downward trend. In 2019-2021, the annual average spread dropped from 4850yuan per meter to around 4500yuan a meter. The decline was relatively mild.Even with the strong recovery in demand in 2021, the spread has not widened. In addition to the relative firmer stance of raw materials, the continued expansion of DTY capacity is one of the main reasons. This is also why when demand has weakened in 2022 the supply-demand conflict for DTY is significantly greater than for other products such as FDY.

A wave of expansion was driving in the peaking period of the nylon industry in 2017-2018. However, after the downturn in 2019 and the epidemic in 2020, many expansion plans were postponed to 2021.

 
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