Asian markers for caprolactum, the SE and FE softened US$50 a ton in the last week of April while high?end contract price for April was not settled. In China, spot liquid caprolactum offers were down US$35 a ton on the week while solid goods were ranged-bound.
Caprolactam prices were under weak correction on the back of range bound benzene and players on the sidelines. In China, offers for liquid goods in spot market softened while mainstream Asian markers also fell amid slow liquidity. In contracts, Sinopec and Fibrant announced their April settlement much lower than nomination while their May nomination was just closer to April settlements.
Demand remained modest as run rates of polymerization units were up at 70%, and inventory at 9 days’ worth. Run rates at yarn makers were up to 65%, with inventory at 30 days’ worth. In line with range?bound benzene, caprolactam prices may move sideways in coming week, with buyers procuring small volumes.
Courtesy: Weekly PriceWatch Report
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