02 October 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European September nylon 6,6 prices have settled at a rollover because of weak demand, buyers and sellers said on Tuesday.
This is despite upstream butadiene (BD) and benzene price rises in recent months.
Consumption in the fourth quarter is predicted to be up to 30% below the fourth quarter of 2011, depending on end-use application, with the end-use automotive market expected to be the most severely affected.
This is the result of bearish macroeconomic conditions which have reduced consumer purchasing power.
A higher proportion of nylon (or polyamide) 6,6 end-use demand goes into automotive applications than for nylon 6. Nylon 6,6 can be manufactured either using adipic acid – which is downstream of benzene – or adiponitrile via BD.
Europe nylon 6,6 virgin polymer September contracts finalised at €2.70-2.78/tonne ($3.36-3.56/tonne) FD (free delivered) NWE (northwest Europe).
($1 = €0.78)
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