Asian caprolactum markers, SE and FE, were flat in the first week of January. In China, spot offers for liquid goods moved up while solid goods were stable on the week.
Caprolactum markers in Asia were flat on the week while prices inched up in China on the back of moderate demand amid tight supply and surging benzene cost. In China, liquid caprolactum offers in spot market moved up while mainstream values for solid goods edged down. Offers for East European goods were firm.
Sinopec raised its January contract nomination by 3.5% on the month while Fibrant Chemical similarly raised settlement for January. Downstream run rates at polymerization units were still below 70% and inventory worth 3 days.
Yarn makers were running at 69% with inventory down to 18 days’ worth. Coupled with range?bound commodity and rising benzene, caprolactum prices are likely to remain firm in coming weeks.
Courtesy: Weekly PriceWatch Report
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