In China, offers for liquid good edged up US$40 a ton in the third week of March while solid goods offers were flat on the week. Asian markers, the SE and FE markers gained another US$30-50 a ton during the week.
Sinopec revised its March contract nomination which was up US$55 a ton for liquid goods while DSM Nanjing retained its March nomination at US$1,625 a ton for liquid goods.
High-end caprolactum for March was offered at US$1,300-1,350 a ton, with counter offers at US$1,200 a ton.
With increased supply and recovering raw materials, caprolactum prices continued to rise on brisker demand and sellers’ push for price hike.
Downstream demand was decent as run rates of polymerization units were up and inventory level was down to 4 days’ worth. Run rates at downstream filament yarn makers were also up, with inventory still at 25 days’ worth.
Offers for liquid goods in spot market edged up while those for solid goods were flat. Sinopec hiked its March contract nomination for liquid, AA grade, goods while DSM Nanjing maintained its nomination at previous week’s level.
Courtesy: Weekly PriceWatch Report
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