Asian capro spot prices up on active buying

17 August 2011 11:25  [Source: ICIS news]

SINGAPORE (ICIS)--Asian spot caprolactam (capro) prices rose by $40-50/tonne (€28-35/tonne) on the low end of the range on the back of active buying enquiries in the afternoon, traders said on Wednesday.

Offers were largely at $3,570-3,580/tonne CFR (cost & freight) China on Monday, but saw a sharp increase of $50/tonne, edging over $3,600/tonne and were up to $3,620-3,630/tonne CFR China by Wednesday evening, traders said.

The offers were for deep-sea origin parcels that will be loading in September and early October, they added.

One sold deal was heard at $3,580/tonne CFR China on Wednesday afternoon, traders told ICIS.

Buying ideas hovered at $3,550-3,580/tonne CFR China on Tuesday, they added.

Spot prices were last assessed at $3,500-3,530/tonne CFR China/Taiwan on 10 August, ICIS data showed.

($1 = €0.69)

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By: Junie Lin

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