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Asian CPL producers reduce July contract prices

21
Jul '10
In Chinese market Caprolactam (CPL) prices rose by RMB 100 / ton and new prices assessed around RMB 19,300 / ton, while it's upstream prices remained stable. Buying interest is improving along with the slight recovery in the chip markets.

In Asia as an effect of sliding spot markets, major CPL producers have reduced their July contract prices to $2,400-2,450 / ton.

Caprolactam USD spot downstream market showed a small amount of inquiry in the range of $2,270-2,280 / ton (CFR China main port L/C90 days). Caprolactam spot market prices stood at RMB 19,200 / ton and that of Sinopec was RMB 19,200 / ton.

In Chinese market, Nylon chips prices remained stable around RMB 21,400. In China, the sales / production ratio has also seen improvement but is yet to reach 100 percent level. Also on other hand, Nylon chip inventories stayed at an uncontrollable level of 30 days.

In Asia mainstream transactions were done in the range of $2,650-2,700 / ton.

Prices of Nylon POY, FDY and DTY prices also remained stable around RMB 24,800 / ton, RMB 25,800 / ton and RMB 28,200 / ton respectively. I

n Asia decreasing fabric supply due to energy conservation plans in the Zhejiang area has recently boosted buying interest.

But original demand remains weak as the nylon textile market gradually steps into the slow season.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India


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