22 September 2010 07:37 [Source: ICIS news]
By Junie Lin
Offers for nylon 6 chips were being quoted at $2,850–2,900/tonne (€2,138-2,175/tonne) CFR (cost & freight) China, while spot prices were last assessed at $2,780–2,820/tonne CFR China in the week ending 21 September, up 5.7-7.5% from early-August due to spikes in costs of feedstock caprolactam, based on ICIS data.
“The hope of a true-blue peak season is quite bleak now,” said a regional nylon 6 producer in Mandarin.
Nylon 6 is widely used in the manufacture of hosiery, knitted garments, threads, ropes, filaments, nets and tyre cords.
Earlier expectations that demand would strengthen next month, particularly from downstream nylon and tyre cord sectors, were quashed as buying interest had been very weak, industry sources said.
The long holidays in
The country, which is the world's largest consumer of nylon 6 chips, is observing its Mid-Autumn Festival this week and will celebrate its week-long National Day holidays in the first week of October.
Only a few thousand tonnes of nylon chips were sold to
Meanwhile, demand was further being hindered by lower production rates in the downstream nylon yarn sector in
The mandated power curbs in selected Chinese provinces, which were due to end on 13 September, had been extended to December in the government’s hope to meet its self-imposed carbon emissions targets.
($1 = €0.75)
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