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RMB market of caprolactam remains flat
28
Jan '11
RMB market of caprolactam remained flat. Offers from holders were around 26,300-26,500 Yuan / ton, counteroffers from downstream market were around 26,000 Yuan / ton and actually negotiated prices were around 26,100-26,200 Yuan / ton.

Mainstream offers of spot caprolactam were around 26,000-26,200 Yuan / ton. It is reported that January settlement price of Sinopec is 25,600 Yuan / ton. Offers in US dollar fell, as holders were reluctant sellers, a few quotations were around US $3,300 / ton or slightly higher, buyers were waiting and observing, trade volume was flat.

In East China, nylon conventional spinning slice was quoted at 26,800-27,500 Yuan / ton, most factories were cautious. Offers from mainstream manufacturers over the weekend were 27,500-28,000 Yuan / ton in terms of cash payment for nylon high-speed spinning chips and conventional spinning semi-dull chips, operation rate of polymerization factories was 50-60 percent.

Major factories in Jiangsu demanded price at 27,500-27,800 Yuan / ton for nylon conventional spinning bright chips, general prices of nylon high-speed spinning chips from factories in Zhejiang were generally around 28,000-29,000 Yuan / ton, to be delivered to buyer's destination, operation rate of factories was cautious at 50-70 percent, price were mainly firm.

Anti dumping duty on caprolactam has been introduced, market sellers have become reluctant sellers, buyers have gradually withdrawn from the market, therefore the market is expected to be strong in the short term.

Fibre2fashion News Desk - China

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