Asia June capro contracts settled up $60-65/tonne

26 June 2008 07:41  [Source: ICIS news]

SINGAPORE (ICIS news)--Northeast Asian caprolactam contracts for June were mainly settled $60-65/tonne higher at $2,560-2,575/tonne on the back of rising raw material costs, producers and end-users said on Thursday.

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

Producers said they planned to raise prices further in July on cost pressures, although no fresh nominations were heard.

May contracts were rolled over from the previous month at $2,500-2,510/tonne amid weaker-than-expected demand from the downstream nylon market.

In the spot market, caprolactam spot prices were traded at $2,560-2,590/tonne on Wednesday, up $10/tonne at the lower end of the range from a week earlier, according to global chemical market intelligence service ICIS pricing.

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

For more on caprolactam, visit ICIS chemical intelligence

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By: Hsin Hun Wan
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