In China, offers for liquid goods were up US$10 a ton in the first week of September due to stronger currency on the week and discussions were also up US$30 a ton. Asian markers, the SE and FE fell US$20 a ton. Sinopec’s settlement for August was at US$1,725 a ton for liquid while DSM Nanjing’s settled August at US$1,765 a ton.
Caprolactum markets were flat in the first week of September and prices fell given the volatile crude oil markets and falling benzene values. In China, caprolactum prices rallied a bit early in the week, given the recovery of crude oil and stable terminal demand. Market liquidity was also modest before two days holiday in China to celebrate Victory Day.
Although, offers for liquid goods rolled over the solid goods discussed slightly lower, downstream buyers followed up cautiously but slightly more enquiries emerged at low buying indications. Offers from East Europe moderated while those from Japan remained flat. Prices are likely to rally in coming week given the weekend recovery in crude oil and benzene prices and modest market liquidity.
Courtesy: Weekly PriceWatch Report
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