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Caprolactum producers face inventory pressure in Asia

YarnsandFibers News Bureau 2016-10-18 05:38:07 –

Asian caprolactam markers, the SE and FE were up US$10 a ton in the first week of October while Japanese goods were stable on the week. In China, spot offers spot inched down US$25 a ton while solid goods offers were range bound on the week.

Caprolactum market sentiment was mute with most buyers and sellers on the sidelines, citing huge inventory pressure at producers. In China, mainstream values inched down while mainstream values for FE and SE Asia rose at the lower end.

A part of September contract prices were settled higher that week amid tight supply of import cargoes while other discussions were delayed on supply concern. Sinopec retained its October contract nomination which was up US$40 a ton from September) for liquid goods.

In Europe, September caprolactam contract price was settled at a rollover from August, while October discussions are expected to begin next week, but price targets were unclear.

Courtesy: Weekly PriceWatch Report

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