In China, liquid and solid good offers were both up US$55 a ton in the second week of March. Asian markers, the SE and FE markers further gained US$30 a ton on the week.
Sinopec revised its March contract nomination which was up US$40 a ton for liquid goods while DSM Nanjing announced March nomination which was also up US$40 a ton for liquid goods. High end caprolactum for March was settled higher at US$1,250-1,350 a ton.
With normal supply and recovering raw materials, caprolactum prices continued to rise on brisker demand and sellers’ push for price increase. Prices were also supported by decent downstream demand. Run rates of polymerization units were at 71% and inventory level worth 5 days.
Nylon filament yarn makers were running at 73% with inventory down to 25 days’ worth. Liquid caprolactum offers in spot market edged.
Sinopec and DSM Nanjing announced upward revision in nomination for March while high-end caprolactum settled higher, with buyers following up cautiously.
Courtesy: Weekly PriceWatch Report
