28 May 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European nylon 6,6 May contract prices have finalised at a rollover compared with April after feedstock cost movements counterbalanced each other while supply and demand fundamentals remain broadly stable, sources said on Tuesday.
A €64/tonne ($83/tonne) rise in the upstream May benzene contract price was counterbalanced by a €75/tonne fall in the May butadiene (BD) contract price.
Nylon 6,6 (or polyamide 6,6) is manufactured either from adipic acid – which uses benzene as a feedstock – or adiponitrile via BD.
Nylon 6,6 demand in May 2013 has been forecast at 10% below the level witnessed in the same month in 2012 because poor macroeconomic conditions have limited consumer purchasing power.
Nevertheless, consumption levels remain broadly flat with April, and are expected to remain stable in June. Several players on both sides of the market are already anticipating a rollover in the June contract price for nylon 6,6 because they forecast stable fundamentals.
Nylon 6,6 May virgin polymer contract prices finalised at €2.75-2.78/kg FD (free delivered) NWE (northwest Europe).
($1 = €0.77)
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