The price of global fiber grade nylon 66 chip resin is rising. IHS Markit's latest report "Global Nylon Fibers and Raw Materials" reports that nylon 66 producers have done their best to increase production, mainly because of strong demand in the engineering plastics market.
IHS Markit statistics show that in the past 12 months, the reference price increase in Northeast Asia was the largest, the spot price rose by about 53% to $4,075 (ton price, the same below); the reference price of nylon 66 in Western Europe rose by more than 25 %, up to 3,350 euros; the reference price in the Gulf of Mexico region increased by 29% to $3,350. Global nylon fiber and raw materials reported that European nylon 66 producers were affected by supply shortages of raw materials adiponitrile and hexamethylenediamine (HMDA). Production fell, and US exports to Europe hit a record high in April.
Recently, Houston-based Austin Performance Materials announced that due to a fire at the Pensacola plant in Cantonment, Fla., the closure of multiple polymerization units, all nylon 66, composite and industrial fiber supplies suffered force majeure. This will enable the world nylon 66 supply situation upgrades over the past three quarters as some raw material supply disruption has led to tight supply. analysts expect this incident may continue to push prices upward nylon 66.