Hexanediamine Encounters Force Majeure, Making it Difficult to Find Goods Source in HDI Market
2021-02-23    [Source:PUdaily]

PUdaily,Shanghai --

Hexanediamine encounters force majeure

    Affected by the polar cold current, extreme weather such as snowfall, sleet and freezing rain began to appear in parts of southern Texas since the night of the 14th, which seriously affected the normal life of local people and the normal operation of factories. At the same time, it also caused the interruption of most of the power grid in Texas. As we all know, Texas is an important energy center of the United States. The blackout had paralyzed chemical plants in Texas and surrounding states. The two adiponitrile and hexanediamine plants in NVIDIA, Texas, and the aoshengde adiponitrile and hexanediamine plants in Alabama, Texas, were seriously affected. The two hexanediamine giants announced force majeure at the same time. Whats worse, these plants account for 65% and 50% of the global production capacity of adiponitrile and hexanediamine respectively. The global supply situation of hexanediamine is very severe, where there is a large chance that  the road to restart will not be short.



 Mainstream downstream application price of Hexanediamine soaring

    As the supply situation of hexanediamine had taken a sharp turn, the price increase letter of nylon 66, which is the mainstream downstream application of hexanediamine, had flew here like snow. At the beginning of the year, the market price soared to more than RMB 4,000/ton. According to the current market trend, the follow-up is expected to approach the historical high in 2018.

 HDI series products under great pressure

    The supply of hexanediamine, the main raw material of HDI series products, took a heavy hit. For suppliers, both cost and supply source had been under great pressure. After the festival, some downstream coating enterprises gradually resumed production, while the suppliers were cautious in offering and the trading volume shrank sharply. Moreover, the supply of goods held by the middlemen was very limited, where there is a heavy intention to be reluctant to sell out due to the low price. The quotation of the bulk order had risen to about RMB 60,000-70,000 /ton. In the short term, the market price was expected to run strongly with a upward trend.

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