The latest weekly data from the nylon filament distribution hubs in Shengze and Jiaxing reveals a critical signal: upstream raw material costs have edged up, but downstream demand has not followed suit, instead showing a clear structural divergence. This pattern of 'cost-push, demand-divergence' is becoming the most noteworthy variable in the current nylon supply chain.
Upstream Cost Transmission: Caprolactam and Chips Both Rise
As of the end of this week (July 5), the market price of caprolactam has climbed to the range of 10,950-11,000 yuan per ton, marking a notable increase from the previous week. Nylon 6 chip prices have also risen, quoted at 11,400-11,500 yuan per ton. These two core raw material increases have directly raised the production cost floor for nylon filament. However, it is worth noting that this cost-side push has not been fully translated into downstream price momentum, as price trends for different nylon filament specifications diverge significantly.
Demand Divergence: Fine Denier Hot, Standard Specs Cold
Looking at transaction data by category, 15D/34F nylon DTY continues to sell briskly, making it the most active product this week. Meanwhile, 160D nylon air-textured yarn has maintained a stable sales rhythm. In contrast, demand for 70D/24F nylon-6 FDY has been relatively flat, with prices holding steady at around 13,800 yuan per ton, showing a stable but adjusting trend. Market feedback indicates this is directly linked to the persistent sluggishness in polyester-nylon interwoven fabric orders.
A noteworthy contrast appears in the full matt series. Demand for 40D/24F full matt FDY has seen a cyclical uptick, with downstream procurement primarily for producing water-jet high-density nylon spun. However, the 70D/24F full matt FDY in the same series has performed poorly, with prices maintained at 15,300-15,500 yuan per ton. The main reason is the strong substitution effect from polyester FDY full matt products, which are widely used in full matt polyester taffeta, squeezing nylon's market share in this segment.
Additionally, procurement volumes for 20D/1F and 30D/1F semi-dull nylon monofilament have rebounded, but prices have changed little, indicating cautious inventory replenishment behavior downstream. Nylon-66 DTY, due to its narrow application scope, has entered a state of having a listed price but no actual trading.
Industry Impact: Structural Concerns Beneath Total Volume Growth
From a more macro perspective, total demand for nylon interwoven fabrics this year has indeed expanded compared to the same period last year. Downstream weaving mills are still receiving orders for nylon filament interwoven fabrics, but they are mostly digesting previous stockpiles, with limited new procurement. This state of 'orders exist, but restocking is cautious' reflects terminal brands' lack of confidence in the outlook, preferring just-in-time purchasing over building inventories.
With upstream raw material prices oscillating upward and downstream demand showing structural divergence, the nylon filament market is unlikely to see a broad-based rally in the short term. For mills, fine-denier and differentiated specifications offer relatively better profit margins, while standard specifications face greater price competition pressure.