01 June 2011 05:15 [Source: ICIS news]
SINGAPORE (ICIS)--Buyers and sellers in the Asian caprolactam market failed to settle their June contracts given a huge gap in the buying and selling ideas, market sources said on Wednesday.
Sellers are willing to settle the contracts at $3,200/tonne (€2,208/tonne) CFR (cost and freight) NE (northeast) ?xml:namespace>
Last week, nominations for June contracts emerged at $3,250/tonne CFR (cost and freight) NE (northeast)
“[June contract] negotiations are still going on,” said a major northeast Asian producer.
Market participants are hoping to conclude contract talks by next week.
Caprolactam spot prices were weak amid lacklustre demand from downstream nylon industry, market sources said.
Spot prices were assessed at $3,100-3,200/tonne CFR NE Asia on 25 May, down $100/tonne week on week, according to ICIS.
($1 = €0.69)
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