Asia June caprolactam contract settlement falls $200-210/tonne

08 June 2011 10:25  [Source: ICIS news]

SINGAPORE (ICIS)--June caprolactam contracts in Asia were largely settled at $3,200/tonne (€2,176/tonne), down $200-210/tonne from May, key producers and buyers said on Wednesday.

The price on a cost and freight (CFR) northeast (NE) Asia basis was also $50/tonne lower than what producers nominated, they said.

There was a delay in the settlement of June contracts given a wide disparity in price ideas from buyers and sellers.

Spot caprolactam prices offers were higher on Wednesday at around $3,220-3,240/tonne CFR China, market sources said.

Although spot deals remain sparse, most market sources said the June contract price is reasonable.

($1 = €0.68)

By: Junie Lin

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