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Asian caprolactam market remains flat
01
Jan '08
In the last week of December, the valuation of caprolactam in Asian market was at US $2410-2420 per ton, CFR Far East / Southeast Asia, same as previous week.

Asian market remained stable in the week due to poor buying from end users in China. The market was dull. The industry attributes this languishment to many unfavorable factors, of which the main factor is Chinese government's tightening control over credit in the fourth quarter.

In addition, demand from downstream sector of nylon industry is limited. One Chinese tire cord fabric maker said, in face of high costs of raw materials, the space for filament industry to raise their price is extremely restrained.

Moreover, the import tariff rate for polyamide 6/66 will be lowered from current 7.6 percent to 6.5 percent starting from January 1, 2008, nylon product manufacturers intend to reduce December import volume of chips, such a decision is expected to save tax as much as US $29.70 per ton, assuming that the pre-tax price was at $2,700 per ton.

China's Lunar New Year holiday is in early February next year. With price staying at such a low level, inventories of most manufacturers could last into January.

Fibre2fashion, News Desk - China

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