Asian caprolactum markers, the SE and FE declined US$100-200 a ton in the second week of May. In China, spot liquid goods offer fell US$45 a ton while solid goods were down US$60 a ton on the week.
Caprolactam prices continued to remain under pressure on the back of flat to low benzene values and moderate demand. In China, offers for liquid goods in spot market fell further while values for East European goods softened amid slow liquidity. In contract, Sinopec further cut its May contract nomination while high end contract price for April remained unsettled.
Downstream demand was moderate with run rates at polymerization units up at 71% and inventory down to 9 days’ worth. Yarn makers run rate were also up at 71%. In Europe, caprolactam May contracts rolled from April.
Courtesy: Weekly PriceWatch Report
