20 January 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--European nylon 6 (PA 6) January contracts were down €0.50/kg ($0.65/kg) from December on the back of poorer than expected demand, a major producer confirmed on Tuesday.
Nylon 6 was valued at €1.40-1.45/kg, down €0.50/kg from the previous month because of poor offtake from the construction, automotive and textiles industries.
“Demand is still at a low level, worse than we expected,” said the producer. “It has recovered a little but it’s really too early to say. Ehat has taken place is a minor erosion on price.” he added.
The January nylon 6 contract price was settled on a FD (free delivered) NWE (northwest ?xml:namespace>
Other sources in the nylon sector said it was almost impossible to value nylon since demand for many was still very thin.
“I have no better idea on pricing because I haven’t seen anything showing a real trend. We are just living from day to day,” commented another producer.
Nylon buyers were also uncertain about what prices could be achieved in a market where there was very little demand.
“I can’t give a price because nobody is buying anything, volumes are just so low,” quoted a large nylon 6 buyer.
($1 = €0.76)
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