Corrected: Europe October nylon settles down €0.02-0.05/kg

14 October 2008 23:59  [Source: ICIS news]

Correction: In the ICIS news story headlined "Europe October nylon settles down €0.02-0.05/kg" dated 14 October 2008, please read in the second paragraph ...nylon 6 were valued at €1.91-1.95/kg... instead of ...nylon 6,6 were valued at €1.91-1.95/kg..., ...€2.26-2.41/kg for nylon 6,6... instead of ...€2.26-2.41/kg for nylon 6.... and down €0.05/kg and €0.02/kg... instead of ...down €0.02/kg and €0.05/kg....  A corrected story follows.

LONDON (ICIS news)--Nylon contract prices in Europe have eased in October because of poor demand and high stocks, producers and consumers confirmed on Wednesday.

October contracts for nylon 6 were valued at €1.91-1.95/kg FD (free delivered) NWE (northwest Europe) and €2.26-2.41/kg for nylon 6,6, down €0.05/kg and €0.02/kg respectively on September levels according to global chemical market intelligence service ICIS pricing.

“We have seen nylon 6 prices ease by €50/tonne ($66/tonne) in October because of poor demand,” a major producer said.

The selling source also believed that the value of nylon 6,6 had also softened.

Added a consumer of both grades: “People are turning production down on nylon 6 and we are seeing competitive offers of nylon 6,6. We are however still seeing 6,6 at €2.30/kg,” added the source.

The nylon market, and its feedstocks caprolactam and adipic acid, have been under pressure from high stocks, poor demand and lack of export opportunities to Asia.

“The producers (of nylon) are under pressure to bring quantities in the market and people just don’t have the demand,” commented a distributor to the engineering thermoplastics sectors.

($1 = €0.74)

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By: Julia Meehan
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