Europe July capro prices down €30-€40/tonne
18 July 2007 23:59 [Source: ICIS news]
LONDON (ICIS news)--July caprolactam contract prices were assessed €30-40/tonne down following the recent settlement of upstream July benzene contract prices, said buyers and producers.
Benzene contract prices fell €78/tonne ($108) at the end of last month, but with the recent supply difficulties in the European caprolactam market applying upward pressure on prices the full decrease in the upstream product was unlikely to be realised, said caprolactam producers.
As a result buyers and producers settled for a compromise of around half the benzene decrease bringing the assessed settlement down to €1,935-1,995/tonne FD (free delivered) NWE (northwest Europe), according to global chemical market intelligence service ICIS pricing.
Producers said it would be “unfair” to push prices higher in the current climate, particularly given that benzene had increased in price substantially since February, and the result was a compromise of a decrease of about half the benzene fall.
Caprolactam supplies continued to be hit although a DSM spokesman said its 270,000 tonne/year facility in Geleen, the
However, it was unable to supply material for its Asian customers.
Improvements at DSM were offset by continuing production challenges at BASF’s 395,000 tonne/year plant in
($1 = €0.73)
By: Nick Savvides
+44 20 8652 3214
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