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Insight | Time:Dec 19 2017 9:07AM
Nylon 6 filament market makes great profits in 2017
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Nylon 6 filament market has made great profits in the whole year of 2017 amid strong production and sales, though the market slumped in the beginning of the year. Nylon 6 filament market may remain bullish in 2018.

The previous peak of nylon 6 filament capacity expansions was in around 2013, but downstream demand did not increase largely, and supply became surplus. As a result, nylon 6 filament market fell year by year amid fierce competition, and profits shrank. Limited new filament plants started up, and only some new units that were delayed started up. But demand boomed in 2017, and filament supply stayed tight. Meanwhile, supported by relevant feedstock policies and firm commodity markets, nylon 6 textile filament rallied with large profits. Capacity growth of nylon 6 filament increased, and previous new units tended to start up ahead of time.

Trading level for nylon 6 textile filament market rebounded after slips in the past few years affected by firm fundamentals, relevant policies and speculations. Besides, filament plants turned losses into gains. The annual average inventory of textile filament plants reduced to a low level, and textile filament market was easy to rise and hard to fall. For the coming year of 2018, fundamentals of filament market would remain good, and inventory would stay low. Profits would advance further.

Payment terms for textile filament market in 2017 also improved. Sales on credit had curbed the development of nylon 6 filament markets for many years, but the problem improved evidently in 2017 amid firm market, especially in the second half of 2017 when sources were tight. Payment by cash prevailed in nylon 6 filament market now, and the payment time for account receivables reduced to within 30 days. Most enterprises were under no pressure on collecting receivables in end-2017.

Nylon 6 filament market would improve further in 2018, and nylon 6 textile filament market would be more competitive among nylon markets.
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