Caprolactum price dives in China

Asian markers, the SE and FE markers edged down US$30 a ton in the second week of January. In China, liquid good offers in spot market fell US$45 a ton on the week with selling indications at US$1,450 a ton delivered. Solid goods were at US$1,495-1,510 a ton.

Sinopec cut its January contract nomination US$1,510 a ton, down US$60 from previous nominations for liquid goods while DSM Nanjing’s numbers were at US$1,575 a ton for liquid goods and US$1,610 a ton for solid goods.

Caprolactum prices eased that week on insipid demand and range-bound raw materials. Market participants were living hand-to-mouth volume with low buying indications. Offers were sparse and mainstream values for East European goods went south.

In China, Sinopec cut its January contract nomination while DSM Nanjing retained its nomination for the month. January contract nominations for high-end goods were not announced.

Demand was weak since run rates of polymerization units were stable at 71% while yarn makers rate slipped amid high inventory.

With reduced supply and softening raw materials, caprolactum prices are approaching on a bearish note on slower demand.

Courtesy: Weekly PriceWatch Report