Asian caprolactum prices surged US$190 a ton SE and FE markers in the first week of December. In China, spot offers for liquid goods swelled US$485 a ton during the week.
Caprolactum prices swelled to 2 year high given healthy downstream demand, recovering raw materials and tight supply. In China, liquid and solid good offers jumped 13 per cent week on week in spot market.
In contract, Sinopec and Fibrant raised their nomination for December taking cue from the jumping spot values. Downstream, run rates at polymerization and yarn makers were running at 70% with low inventory.
European caprolactum makers are targeting increases for their December contracts, slightly above the increase of the monthly contract settlement for feedstock. Caprolactum prices will remain firm given surging raw materials and tight supply.
Courtesy: Weekly PriceWatch Report
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