Caprolactum prices softened in the third week of August reflecting weaker benzene and bearish demand. Low-end liquid spot offers were corrected down while offers for low-end solid goods also fell. Sinopec lowered its August contract nomination while DSM Nanjing’s nomination was steady. High-end contract prices were in negotiation.
Run rates at downstream polymerization units picked up a bit with inventory level at around 7 days’ worth. Nylon textile yarn makers were also running at low capacity, with inventory at around 27 days’ worth. Given the bearishness of feedstock and insipid demand, caprolactum market is likely to remain weak in coming weeks.
In China, spot offer for liquid goods were down US$15-30 a ton and discussions were also down US$30-45 a ton. Asian markers, the SE and FE rolled over on the week. Sinopec lowered its nomination for August which was down US$60 a ton for liquid while DSM Nanjing’s nomination was stable for solid goods.
Courtesy: Weekly PriceWatch Report
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