Caprolactum prices plunge amid weak market sentiment

In China, liquid and solid good offers were both down US$70 a ton in the second week of November.

Asian markers, the SE and FE rolled over at US$1,300-1,350 a ton while trading values for East European goods were at US$1,300-1,350 a ton.

Sinopec retained its November contract nomination to US$1,730 a ton for liquid goods.

DSM Nanjing’s settlement for November was at US$1,870 a ton for solid goods.

Caprolactum prices were lower that week amid bearish sentiment and range bound benzene markets.

In China, mainstream spot values dipped. Liquid caprolactum offers in spot market edged down while offers for low-end solid goods were pushed down.

Sinopec and DSM Nanjing maintained their settlement for November at previous week’s level.

Demand was sparse as run rates of polymerization units were maintained at 75% and inventory level at 10 days’ worth.

Nylon yarn makers run rate was stable with inventory still at 28 days’ worth. As producers intended to cut operating rate, the downslide is expected to decelerate, amid softening raw materials and dull demand.

Courtesy: Weekly PriceWatch Report