Asian caprolactum prices moved up US$100 a ton SE and FE in the third week of February while East European goods were also up on the week. In China, liquid caprolactum offers in spot market jumped US$90 a ton while solid goods were also up on the week.
Sinopec raised February contract nomination by US$130 a ton on the week for liquid while Fibrant nominated February which was up US$90 a ton.
Caprolactum prices surged on the back of although falling but strong benzene cost. Asian markers were up 5% on the week while spot offers for liquid and solid goods in China moved up US$90-120 a ton.
Sinopec and Fibrant raised their February nominations for liquid, AA grade, self? lifting by US$90-130 from the earlier nominations seeing the surging spot. High?end contract price for February was offered higher.
Demand was modest as run rates at polymerization units were at 75% and yarn makers were at 70%. With strong benzene and brisk demand against slightly increased supply, caprolactum prices will remain firm in coming week.
Courtesy: Weekly PriceWatch Report
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