Asian markers, the SE and FE markers rolled over in the first week of February.
In China, liquid good offers rolled over at US$1,425-1,440 a ton with selling indications at US$1,410-1,425 a ton. Solid goods offer fell to US$1,470-1,485 a ton.
Sinopec cut its January contract settlement to US$1,455 a ton for liquid goods while DSM Nanjing’s settlement was at US$1,460 a ton for liquid goods.
Caprolactum prices remained flat amid inactive trading as most players in China had left for Lunar New Year holidays during that week.
Upstream, benzene prices moved in a narrow range, thus cost support to caprolactum remained weak.
Downstream demand continued to remain weak as run rates of polymerization units fell to 60% and inventory level fell to 7 days’ worth, while the same at yarn makers slipped with inventory falling to 30 days’ worth.
Courtesy: Weekly PriceWatch Report
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