14 February 2006 12:00 [Source: ICIS news]
LONDON (ICIS news)--The majority of European nylon 6 virgin polymer (VP) contracts for February were settled up Euro100/tonne on the back of higher benzene prices, buyers and sellers said on Tuesday.
February nylon 6 VP contract prices were assessed at Euro1,800-1,850/tonne free delivered (FD) Northwest Europe (NWE) by global price reporting and market intelligence service ICIS-LOR.
Increases were attributed to a rise in feedstock prices as well as high energy costs. The February benzene contract price settled at Euro675/tonne FOB (free on board) NWE, up Euro72/tonne from January. February caprolactam contracts were likely to rise by around Euro100/tonne.
Buyers had initially resisted increases greater than Euro20-50/tonne but suppliers were adamant they would regain margins in an attempt to make up for insufficient increases last month. Only one customer reported a hike of Euro50/tonne for extrusion grades, with numbers quoted at Euro1,900-2,100/tonne FD NWE.
Most players reported February nylon 6,6 VP prices at January levels. Although one compounder said numbers had increased by Euro100/tonne, prices quoted remained in the range given for January.
February nylon 6,6 VP prices were assessed at Euro2,050-2,200/tonne FD NWE. Suppliers had originally hoped to boost prices, but buyers said demand was not strong enough to absorb increases.
In the injection moulding sector, February prices rolled over from January. Some players attributed this to insufficient demand and a fairly balanced market.
Suppliers said they would be targeting further increases of around Euro80-100/tonne for both nylon VP grades in March to improve margins.
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