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Chinese CPL market appears firm
Mar '11
February first-quality Caprolactam (CPL) listing price of companies under Sinopec was 26,800 Yuan / ton (shipment by buyers). The price is up by 1,200 Yuan / ton, compared with revised listing price 25,600 Yuan / ton of January.

Baling Petrochemical has maintains 100 percent capacity utilization rate of its two lines, with production capacity of 180,000 tons / year.

Shijiazhuang Chemical Fiber increased its utilization rate of the newly started two lines, with a total caprolactam capacity of 165,000 tons / year) to 60 percent.

Ex-factory price of CPL from Nanjing East has risen to 29,000 Yuan / ton (shipment by buyers in terms of 3-month acceptance). This is a rise of 200 Yuan / ton compared with 28,800 Yuan / ton in previous time.

US offers in CPL import spot market grew to US $3,600 / ton or higher, negotiated prices for bonded cargo are about $3580-3600 / ton, buyers' inquires are at $3560-3580 / ton, while transaction price is $3580-3590 / ton.

In domestic RMB spot market, holders mostly expressed their intention firm at about 29,000 Yuan / ton, actually negotiated price was 28,800-29,000 Yuan / ton and transaction price was around 28,900 Yuan / ton.

Spot market prices in import and domestic market are firm. Low-cost supply has declined; downstream inquiries have slightly improved, but are mostly small and medium size deals. Market participants expect that short-term market sentiment may basically be strong.

Fibre2fashion News Desk - China

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