In the second week of October, Asian markers, the SE and FE were down US$30 a ton while trading values for East European goods were stable.
Sinopec announced contract settlement for October at 11,200 Yuan a ton (US$1,765 a ton) for liquid goods while DSM Nanjing nominated October at 11,600 Yuan a ton (US$1,825 a ton) for solid goods.
October contract nominations for high-end goods were not announced.
Caprolactum prices were flat to down as demand thinned while upstream feedstock benzene markets were recovering. Downstream buyers were cautious amid mounting inventory.
Liquid caprolactum spot offers were stable while mainstream offers for low-end solid goods were at flat.
Offers for goods from SE and FE Asia were sparse amid thin trades.
Run rates of polymerization units remained at modest level while inventory level was up to 7 days’ worth. Nylon textile yarn makers maintained run rates with inventory still high at 27 days’ worth.
Given the recovery in feedstock against moderate demand, caprolactum markets are likely to remain range bound, with buyers on the sidelines.
Courtesy: Weekly PriceWatch Report
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