09 July 2013 17:09 [Source: ICIS news]
LONDON (ICIS)--Nylon 6,6 buyers are targeting price reductions of up to €0.05/kg ($0.06/kg) because of raw material cost reductions and weak demand, they said on Tuesday.
Weak demand was attributed to poor macroeconomic conditions limiting consumer purchasing power coupled with the approach of traditional end-user summer holiday outages.
Several buyers said that nylon demand in July 2013 is lower than in the same month last year.
Although most buyers said that it was too early to predict the exact extent of any year-on-year consumption fall. Some market estimates put the year-on-year fall in buying interest in July at 5%.
Nylon 6,6 producers are aiming to limit July contract price falls to improve margins.
($1 = €0.77)
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