Europe nylon 6 January price dips on poor demand

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 Europe) basis, according to global chemical market intelligence service ICIS pricing.

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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By: Julia Meehan
+44 20 8652 3214

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