Asian markers, the SE and FE markers edged down US$50 a ton in the third week of January. In China, liquid good offers rolled over on the week with selling indications down US$20 a ton delivered. Solid goods offer fell US$15 a ton.
Sinopec cut its January contract nomination fell US$45 a ton for liquid goods with settlement at US$1,450 a ton. January contract nomination for high end goods were absent, with buying indications at US$1,100 a ton.
Caprolactum prices eased that week on insipid demand and range-bound raw materials. Market participants were reportedly living hand-to-mouth with lower buying indications.
Mainstream offers for low-end goods were sparse. Sinopec cut its January contract nomination while DSM Nanjing did not announced any numbers.
January contract nomination for high end goods was also not announced. Downstream run rates at polymerization units were stable while those at yarn makers slipped to 50%.
With reduced supply and softening raw materials, caprolactum prices were approaching a bearish note on slower demand ahead of the Spring Festival.
Courtesy: Weekly PriceWatch Report
