In China, spot liquid good offers were up US$100-140 a ton in the first week of June while solid goods rose US$100 a ton. Caprolactum prices surged on back of firming benzene cost and tight supply. In China, offers in spot market gained while discussions were talked up. In contract, both Sinopec and Fibrant hiked their nominations for June while high?end contracts were not settled during the week.
Demand remained modest amid lower supply with run rates at polymerization units at 73% and inventory level just 3 days’ worth. Yarn makers also operated at 73%, but inventory was high at 25?30 days’ worth. In Europe, supply eased that week, after several months of tightness during H1 of the year.
Asian caprolactum markers SE and FE rolled over in the first week of June after sobering in the last week of May.
Sinopec further raised its June nomination by US$120 a ton for liquid while Fibrant released June nomination by US$20 a ton.
European goods were stable amid slow liquidity.
Courtesy: Weekly PriceWatch Report
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