Asia nylon chips fall $50/t in line with capro

22 October 2008 11:58  [Source: ICIS news]

SINGAPORE (ICIS news)--Asian semi-dull grade nylon 6 chips slid $50/tonne lower this week on persistently weak demand from the downstream garment and textile sectors and the continuous slide in prices for feedstock caprolactam, buyers and sellers said on Tuesday.

Transactions were mainly at $2,400-2,450/tonne CFR (cost and freight) China, the lowest since October 2007.

End-users cited falling caprolactam values and sluggish downstream sector demand for their refusal to purchase nylon 6 in substantial quantities, according to global chemical market intelligence service ICIS pricing.

“Buying interest for nylon has been terribly scant," a regional supplier said in Mandarin.

"The market took another blow when end-users retreated to the sidelines in anticipation of lower prices, on account of dropping upstream caprolactam values."

Spot caprolactam in northeast Asia was assessed at $1,800-1,850/tonne CFR as sentiment mellowed in line with the downturn in benzene.

Benzene derivative caprolactam is a key feedstock of nylon 6.

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By: Yu Guo
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