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In China, bright conventional spinning nylon-6 prices was down US$82 a ton in the third week of April while semi-dull high-speed spinning chip fell US$66 a ton as compared to last week.

Nylon or polyamide chip prices in Asia trended down amid dull market sentiment and downward pressure from raw materials market. In China, nylon chip offers were lowered as downstream demand was weak during the week.

Most producers were cutting production as buying interest in end-sectors was dented by sluggish feedstock and as a result made less procurement.

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In the third week of April, the SE and FE Asian caprolactum markers on the lower end fell US$50 a ton. In China, spot liquid good offers was down US$161 a ton while solid goods declined US$209 a ton on the week). European goods plunged US$30 a ton.

Caprolactum prices in Asia plunged that week on softening feedstock market and lackluster demand. In China, CPL offers moved down due to lower demand while plant run rates declined to 69% in the week.

India imported 3,235 tons of caprolactum in February 2018, down 32% as compared to the previous month.

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Benzene markets tumbled across regions and prices plunged sharply in Asia on weak demand amid excess supplies. The arbitrage window from Asia to US was firmly shut. In Europe, prices dropped amid demand gaps as it lost demand from styrene market with the benzene-styrene spot spread surging dramatically. In US, the benzene markets saw another decline as export opportunities to Europe were absent with the price spread narrowing.

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Benzene prices jumped sharply across regions for the third consecutive month of April, with highest rise seen in Europe. Asian benzene prices rose on strength of downstream styrene and toluene markets and also buoyed by the spurt in US numbers. Asian benzene marker, the FOB Korea jumped 8% or US$62 in April. In US, spot benzene posted sharp gains in week four of April on buying interest and gains in Europe. In Europe, reduced pygas availability pushed benzene markets up while exports and rising demand reduce domestic supply. US spot prices rose 12% while European spot jumped 17% from March.

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Increasing supplies of crude oil from North American shale formations continued to weigh heavily on prices this year, creating a glut in world markets and decreasing demand for oil from the Organization of the Petroleum Exporting Countries. OPEC forecast that its market share would be 5 percent lower by 2018 as shale supplies continued to increase faster than demand. However, OPEC Secretary-General Abdullah al-Badri believes that the 12-member cartel, which pumps a third of the world's oil, prices would recover next year.

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Asian benzene prices marker rose US$12 on last Friday and US$23 week on week, to be assessed at US$1,244.50-1,245.50 a ton FOB Korea in the week ended 21 March, tracking firmer prices in the US. Prices were softer earlier in the week, but as western goods started climbing supporting Asian numbers. In Europe, as benzene inventories remained low and spot prices continued to be prone to sharp swings. Assessments for spot barges were heard at US$ 1,384.50-1,385.50 a ton FOB Rotterdam while CIF ARA numbers were at US$1,374.50-1,375.50 a ton, both up US$12 from last week.