1 Today's Summary

①、 4/1: The market focus shifted from sanctions on oil-producing countries to the U.S. tariff hike policy, with concerns that the demand outlook would be dragged down, leading to a fall in international oil prices. NYMEXMay contract at $71.20, down $0.28 per barrel, a decrease of 0.39% month-on-month; ICE Brent futures rolled to June contract at $74.49, down $0.28 per barrel, a decrease of 0.37% month-on-month. China's INE crude oil futures main contract 2505 rose by 11.6 to 549 yuan per barrel, and night session rose by 4.3 to 553.3 yuan per barrel.

Today, the capacity utilization rate of domestic PA66 is 57%, with a daily output of about 2,200 tons. Under the pressure of costs and demand, the capacity utilization rate of domestic polymer 66 enterprises has decreased. The demand side is moderate, and the supply of domestic PA66 industry is relatively abundant.

③、 Innovia (China) Investment Co., Ltd. announced that starting from April 1, 2025 at 7:00 am, the spot trading price of hexamethylenediamine will be implemented at 21,300 RMB/ton, which remains stable compared to the price in March.

2 Spot Overview

Table 1: Domestic PA66 Price Summary (Unit: Yuan/Ton)

Based on the Yuyao market in East China, the reference price for EPR27 today is 16,700-16,900 yuan/ton, remaining stable compared to yesterday's price.

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

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	Figure 6 2025 Domestic PA66 Profit and Price Comparison (RMB/ton)
Data source: Longzhong Information	Source: Longzhong Information

4 Price Prediction

Demand remains weak, with downstream buyers purchasing as needed. Polymerization enterprises, under cost pressures, are inclined to reduce production. It is expected that the domestic PA66 market will remain stable in the near term.

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Adipic acid market ： Adipic Acid MarketThe market remains in a stalemate with fluctuations. Raw materials experienced narrow intraday fluctuations, with insufficient momentum from the cost side. Recent slight strengthening in the raw material sector has heightened market观望情绪. Major suppliers have yet to provide clear guidance, while intermediaries remain flexible in negotiations, with mainstream offers largely stable with minor adjustments. Terminal orders are limited, and buyers are cautious, focusing on essential needs in discussions. Actual orders have not shown improvement, and the僵持 atmosphere persists.

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