September capro contract offer at $3,500/tonne CFR NE Asia

26 August 2011 14:06  [Source: ICIS news]

HANGZHOU (ICIS)--The Asian caprolactam (capro) contract price for September may be announced at $3,500/tonne CFR (cost & freight) northeast Asia (NE Asia), $70–100/tonne higher than in August, said traders and buyers on Friday.

“There is still no clear direction yet,” a Japan-based producer said.

A rollover is impossible because supply remains tight, three major buyers said.

“$3,450/tonne CFR China may be possible,’’ one major buyer said.

However, given the strong yen hurting Japanese exports, one major trader said that Japan-based producers may be seeking $3,470-3,480/tonne.

Other September nominations were expected to be announced at the latest by early next week, said most market players.

Two major buyers said that they had just received offers at $3,500/tonne (€2,450/tonne) CFR NE Asia.

“I am not sure what the others are getting,” a buyer said.

August contract prices were finalised at $3,400-3,430/tonne CFR NE Asia, ICIS data showed.

($1 = €0.70)

For more information on caprolactam, visit ICIS chemical intelligence

By: Junie Lin

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