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Chinese CPL price falls on sluggish demand
14
Nov '11
The price of caprolactam (CPL), a widely used chemical intermediate for producing Nylon 6 fibres, has fallen in China owing to the impact of sluggish demand from downstream sector.

The price of CPL has declined from 27,600 yuan/ton at the beginning of October to 25,700 yuan/ton by the end of the month.

Major domestic manufacturers in China have also lowered their settlement prices during the month. For example, Sinopec cut down its CPL settlement price in October to the implementation level of 27,000 yuan/ton, about 1700-1800 yuan/ton lower than the settlement price in September.

Meanwhile, the Ministry of Commerce has asked import operators to pay corresponding anti-dumping duties to China Customs in accordance with China's final decision on dumping margin for each company, when they import CPL originating in the EU and US from October 22 onwards. The anti-dumping duty on CPL has been imposed for a period of five years. This means that domestic nylon yarn manufacturers, who rely on imported raw materials, have to increase production costs.

Moreover, the European debt crisis has dragged down the investor's confidence and has led to weakening of demand. The domestic enterprises are also facing monetary tightening at present and the textile industry is facing difficulty in cash flow.

The decline in CPL market has also led to a dip in the price of nylon chips. The price of high-speed spinning chips has declined from 30,100 yuan/ton at the beginning of October to 28,100 yuan/ton at the end of the month, down 7 percent. The decrease in price and profits has forced some manufacturers to cut production.

Fibre2fashion News Desk - China

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