The prices of nylon chips (CFR SE Asia) and nylon filament yarn (FDY 70D/24F, FOB NE Asia) may increase in the coming months due to rising prices of benzene and caprolactam and a high demand from the downstream industry. The filament price dropped in April 2021 due to an unclear price trend of raw materials and restrained downstream procurement.
The market of nylon chips and nylon filament yarn was supported by higher prices of benzene and caprolactam along with increasing prices of crude oil in the first quarter of 2021. The USD caprolactam contracts also sustained the price rise. The players stocked up on chips and yarn before the Chinese New Year, expecting a rise in the demand after the Chinese holiday.
The price of nylon chips, CFR SE Asia, remained low at $1,769.52 per metric ton in January 2021, but increased by 20.22 per cent to $2,127.39 per metric ton in the first quarter over the price of January 2021. It is expected to rise at 33.03 per cent to reach $2,830 per metric ton in June 2021 over the price of March 2021, according to Fibre2Fashion’s market intelligence tool TexPro.
The price of nylon filament yarn, FDY 70D/24F, FOB NE Asia, was $2.35 per kg in January 2021. It significantly increased by 19.57 per cent to $2.81 per kg in March 2021, but dropped by 3.56 per cent in April 2021. It is anticipated to recover slightly and reach $2.73 per kg in June 2021, as per TexPro.