In China, liquid goods offer remained flat and discussions were up US$20-30 a ton in the third week of September. Solid goods edged up US$50 a ton. Asian markers, the SE and FE were down US$20 a ton.
Sinopec revised its September contract price which was up US$50 a ton from earlier nomination for liquid goods while DSM Nanjing’s nomination also edged up US$50 a ton from previous one for solid goods.
Caprolactum prices slightly moved down on the week as benzene prices tumbled across regions and despite mild rebound in demand.
Run rates at polymerization units increased to 75 per cent and inventory level fell to 5 days’ worth. Nylon textile yarn producers also raised their run rates but inventory was still high at 27 days’ worth. Industrial yarn makers were running at modest capacity.
Given the fall in feedstock and improved downstream demand, caprolactum market is likely to keep rebounding, with buyers purchasing at low levels expecting fall in prices in coming weeks.
Courtesy: Weekly PriceWatch Report
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