30 October 2012 09:21 [Source: ICIS news]
SINGAPORE (ICIS)--Offers for November caprolactam contract in ?xml:namespace>
Contract negotiations, however, are expected to be prolonged given an average 12% gap between the offers and current spot prices, they said.
Spot prices were being quoted at $2,280-2,300/tonne CFR (cost and freight)
Asian capro suppliers are not inclined to cut contract offers, citing high production cost because of firm prices of feedstock benzene, they said.
“There is no profit for us,” a market player said.
Benzene was trading in Asia at $1,285-1,305/tonne FOB (free on board)
“Maybe it will take us more time to discuss the November contract,” a capro end-user said.
($1 = €0.78)
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