In March 2025, the upstream raw material caprolactam market prices continued to fall under pressure, and the nylon PA6 chip market continued to decline. The weak cost side of nylon yarn drove the decline, and downstream demand did not improve, resulting in a weak performance. Downstream purchases were made on demand, and on-site transactions were limited. Many businesses held a cautious and wait-and-see attitude, and some nylon filament manufacturers offered discounts to sell on the demand side. The market price of nylon fiber continued to decline, falling to a new low for the year.

According to the Commodity Market Analysis System of Shengyi Society, the monthly average price of nylon filament will continue to decline in March 2025. As of March 31, 2025, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 15940 yuan/ton, a decrease of 740 yuan/ton from the previous month, a monthly decrease of 4.44%; Nylon POY (premium product; 86D/24F) is priced at 13500 yuan/ton, a decrease of 800 yuan/ton or 5.59% compared to the previous month; The price of nylon FDY (premium: 40D/12F) is reported at 16500 yuan/ton, a decrease of 800 yuan/ton or 4.62% compared to the previous month.
Raw material caprolactam continues to decline
In terms of cost: Since late February, the price trend of caprolactam in the market has been continuously declining. In March, caprolactam continued its downward trend from February, with negative effects on the cost side and lower than expected performance in terminal demand. This has led to a sharp increase in shipping pressure for polymerization factories, and demand for caprolactam has rapidly cooled down. As of March 31, 2025, the benchmark price of caprolactam in Shengyi Society was 10226 yuan/ton, with a monthly decline of 7.10%.
Supply and demand: In March, the traditional peak season for textiles was not prosperous, and downstream market purchasing willingness was not strong. Demand did not improve, mainly due to the consumption of raw material inventory. The atmosphere of observation and wait-and-see in the market was strong, with limited actual transactions and insufficient support from the demand side.
Future forecast
Cost wise: The market for caprolactam is bearish, and the production capacity of caprolactam in the market will be released, resulting in an increase in supply. The demand side will maintain on-demand procurement, and the short-term caprolactam market price will be mainly weak.
Supply and demand side: Most nylon filament manufacturers have resumed normal production, and the on-site supply will increase significantly. At the same time, the overall inventory level in the market may increase; Downstream enterprises have a certain amount of raw material inventory, and coupled with insufficient confidence in the future market, the demand for replenishment is limited.
Overall, the spot market for raw material caprolactam and nylon PA6 chips are mainly operating weakly, with a lack of cost support and continued weak demand. There is a strong wait-and-see atmosphere in the market, and analysts from Shengyi Society predict that nylon filament prices may continue to decline weakly.