Asia May capro rolls over on weaker nylon demand

23 May 2008 10:31  [Source: ICIS news]

SINGAPORE (ICIS news)--Northeast Asia caprolactam contracts for May were mostly agreed at a rollover from last month at $2,500-2,510/tonne amid weaker-than-expected demand from the downstream nylon market, sellers and buyers said on Friday.

The settlements were agreed on a CFR (cost and freight) NE Asia (northeast Asia) basis.

Prices could be hiked in June in view of continuously rising upstream prices, producers said, although no nominations for June have been reported.

April contracts were up $45/tonne at $2,500-2,510/tonne on upstream costs and upward pressure from the spot market.

Key suppliers to Asia include Ube Industries, Sumitomo Chemical, BASF, China Petrochemical Development Corp and DSM Nanjing Chemical.

($1 = €0.64)

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By: Hsin Hun Wan
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