Nylon-66 chips price in China may recover by end of Q3 2021: TexPro

07 Jul '21

2 min read

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Price of nylon-66 chips in China is expected to rise slightly by the end of third quarter (Q3) of 2021 as the overall demand of the product increased gradually due to recovery from COVID-19. The price showed a slight drop in the beginning of Q3 2021 due to abundant supply and low demand from downstream markets like modified plastic and cord fabric.

Users were reluctant to buy nylon-66 chips due to the existing high prices.

Price of nylon-66 chips in China went from 29,250 yuan per metric ton in January 2021 to 37,670 yuan per metric ton by the end of Q1 2021, recording a surge of 28.80 per cent. It further shot up by 7.62 per cent to 40,550 yuan per metric ton in June 2021, according to Fibre2Fashion’s market analysis tool Texpro.

The price is expected to rise by 4.05 per cent to 42,190 yuan per metric ton in December 2021, over the price in June 2021.

In Q1 2021, suppliers increased the price of nylon-66 chips as supply was tight and feedstock prices were high. The Chinese Lunar New Year holidays in February 2021 further supported the price due to a drop in supply. Plants did not supply to the open market and only sold to their key customers, while traders required trading prices higher than the plants.

Fibre2Fashion News Desk (KD)

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