Asian caprolactum markers, the SE and FE rolled in the second week of April. In China, spot liquid caprolactum offers were up US$80 a ton on the week.
Caprolactam prices rebounded mildly in China that week on the back of recovering benzene over the past three weeks and amid bargain hunting activities. Offers from East Europe and japan origin caprolactum were cheaper following their rigid stand in the past weeks.
Meanwhile, Sinopec cuts its April contract nomination for liquid goods while Fibrant rolled over its April nomination. Demand was modestly picking up with run rates of polymerization units up to 65% with inventory level down to 8 days’ worth. Yarn makers run rate were also up above 60%.
With range?bound weakening of benzene that week and warming up demand, caprolactam markets are likely to move sideways in coming weeks.
Courtesy: Weekly PriceWatch Report
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