Asia June caprolactam contract settlement falls by $200/tonne

12 June 2012 09:55  [Source: ICIS news]

BRISBANE (ICIS)--Most of Asia’s June caprolactam (capro) contracts were settled at $2,420-2,430/tonne (€1,936-1,944/tonne), down by $200/tonne from the previous month’s settlement, in line with falling spot prices and weak demand from downstream nylon sector, market sources said on Tuesday.

The settlement price is on a cost and freight (CFR) northeast (NE) Asia basis.

Spot capro prices were discussed in the low $2,300/tonne CFR (cost and freight) NE (northeast) Asia levels this week as market sentiment continued to be bearish amid macroeconomic concerns, sources said.

Upon settlement of the June capro contracts, price discussions for downstream semi-dull nylon chip (polyamide) in Asia had fallen by more than $200/tonne week on week to $2,720-2,750/tonne CFR China, market sources said.

Capro is an intermediate primarily used in the production of nylon 6 (or polyamide 6) fibres, plastics and other polymeric materials.

($1 = €0.80)
By: Junie Lin

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