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 (?xml:namespace>
“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
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