In China, liquid good offers in spot market were down US$10 a ton due to weak currency while solid goods fell US$35 a ton in the third week of December.
Sinopec’s December contract nomination was at US$1,635 a ton while DSM Nanjing retained its nomination to US$1,680 a ton for solid goods.
Asian markers, the SE and FE markers slipped US$10 a ton while December contract price for high-end goods was offered at US$1,370-1,430 a ton CFR.
Caprolactum prices eased slightly owing to the downslide of raw material benzene cost. Market participants were away from the market, reflecting poor confidence.
Demand remained modest with polymerization units run rate increased and inventory level stayed at 7 days’ worth.
Run rates at downstream nylon yarn makers however, slipped with inventory high at 29 days’ worth.
With benzene values drifting down, caprolactum markets were approaching on an increasingly bearish note.
Courtesy: Weekly PriceWatch Report
