[pa66 daily review] cost pressure remains, market operates steadily

1 Today's Summary

①、 On December 5th, it is expected that the Federal Reserve will cut interest rates next week to boost economic and demand expectations, coupled with geopolitical instability, leading to a rise in international oil prices. NYMEX crude oil futures for the January contract rose by $0.41 per barrel to $60.08, a month-on-month increase of 0.69%; ICE Brent crude futures for the February contract rose by $0.49 per barrel to $63.75, a month-on-month increase of 0.77%. China's INE crude oil futures for the 2601 contract rose by 2.1 to 453.4 yuan per barrel, with a night session increase of 3.7 to 457.1 yuan per barrel.

As of today, the capacity utilization rate of domestic PA66 is 66%, with a daily output of approximately 2,650 tons. The capacity utilization rate is relatively stable, while downstream demand is average, and the supply of goods in the domestic PA66 industry is abundant.

2 Spot Overview

Based on the Yuyao market in the East China region, today's EPR27 market price is 14,600-14,800 yuan/ton, maintaining stability compared to the previous trading day. 。 The market spot supply is stable. The pressure on the cost side is relatively high, downstream maintains a purchasing rhythm based on actual demand, and suppliers tend to be reluctant to sell at low prices.The market is operating steadily.

Figure 1: 2025 Domestic PA66 Price Trend Chart (RMB/ton)	Figure 2: 2025 Domestic PA66 East China Price Trend (Yuan/ton)
Data Source: Longzhong Information	Data Source: Longzhong Information

3 Production Dynamics

Today, the domestic polymer 66 companies have a capacity utilization rate of about 66%, and the industry's supply is sufficient. In terms of profit, raw material prices have not fluctuated significantly, cost pressures are relatively high, and suppliers have a tendency to explore price increases, with expected reduction in losses.

Figure 3: Trend of Domestic PA66 Capacity Utilization Rate in 2025	Figure 4: Comparison of Domestic PA66 Profit and Price in 2025 (Yuan/Ton)
Data Source: Longzhong Information	Data Source: Longzhong Information

4 Price prediction

The market spot supply is stable, influenced by the continuous pressure on costs. The sentiment for price increases among suppliers remains, and in the short term, the domestic PA66 market is expected to operate steadily.

5 Related product information

Market for sebacic acid: Based on the East China market as a benchmark, adipic acid closed at 6500-6700 yuan/ton today, stable compared to previous prices, in line with morning expectations. The domestic adipic acid market remained flat today. At the start of the week, the market showed mostly a wait-and-see attitude. Middlemen maintained stable quotations amidst cautious sentiment, and the supply-demand fundamentals did not show more clear indications, with industry participants waiting for guidance from manufacturers. Downstream buyers had less intention to follow up, and terminal orders showed no improvement, with some downstream operations declining and demand purchases focusing on just necessary needs. The intention to negotiate lower prices still existed, and high-level transactions faced resistance, with actual transactions generally average. East China reference is 6500-6700 yuan/ton acceptance delivered, actual orders negotiable.

6 Data Calendar

Table 2 Overview of Domestic PA66 Data (Unit: 10,000 tons)