Asian caprolactum prices were up US$20-30 a ton SE and FE markers in the second week of January. In China, spot offers for liquid goods moved up US$30 a ton on the week.
Caprolactum prices moved up that week in Asian markets on tight supply and a rally in raw material benzene markets. In China, offers for liquid goods were hiked while values for solid goods edged down.
In contracts, Sinopec raised its January contract nomination which was up US$65 a ton while Fibrant Chemical raised its January settlement for liquid goods which was up US$50 a ton.
Demand was modest as run rates of polymerization units were still at 70% and inventory worth 3 days. Yarn makers were at also running at 70% with inventory at 18 days’ worth.
With downstream demand withering and players taking Chinese New Year break, support from upstream rally and suppliers sticking to their offers, prices are likely to hold firm in coming weeks.
Courtesy: Weekly PriceWatch Report
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