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CPL prices move down. Nylon chips prices stable
30
Jun '10
CPL prices moved down by RMB 300 / ton and new prices assessed around RMB 19500 / ton and its upstream product prices also followed downward trend.

Sinopec settled June contract price at RMB 20600 / ton, a sharp reduction of RMB 2200 / ton from the May contract price. Also due to slow demand, CPL imports to China decreased by 13.5 percent in May in comparison to the previous month.

Nylon chips prices remained stable around RMB 22500 / ton. Due to high inventory pressure, some major chip producers have slashed operation rates to 50 percent.

Market speculators expected that the weak upstream and downstream markets, continue to influence downward pressure on Nylon Chip prices.

Nylon FDY, DTY and POY prices remained stable around RMB 27000 / ton, RMB 29000 / ton and RMB 26200 / ton respectively.

With no optimistic news regarding the downstream market at this point, speculators expected that buying interest will remain weak in the near feature.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India

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