Asian markers, the SE and FE were down US$20-50 a ton in the first week of November while trading values for East European goods also fell to US$1,300-1,350 a ton.
European market settled October at a reduction of US$20 a ton from September.
In China, liquid and solid good offers were both down US$30 a ton on the week.
Sinopec cut its November contract nomination to US$1,735 a ton, down US$75 for liquid goods.
DSM Nanjing’s settlement for November was at 11,900 Yuan a ton (US$1,875 a ton) for solid goods.
Caprolactum prices were lower this week amid bearish sentiment and expectation of increased supply.
In China, liquid caprolactum offers in spot market edged down while offers for solid goods were sparse. Sinopec cut its November contract nomination for liquid good while DSM Nanjing’s settlement was stable.
Demand was hard to improve as run rates of polymerization units were at same level while nylon yarn makers were on steady run.
In Europe, October settled lower on the month as November negotiations kicked off.
With the softening of feedstock and dull demand, prices will be range bound at low level, with the expectation of increased supply.
Courtesy: Weekly PriceWatch Report
